the not talked about ZIRP for over a decade has caused massive losses in pension funds nationwide and forced seniors to get jobs in retirement.. this is but one pension fund in trouble, kalifornia has a 1.2 trillion dollar unfunded pension liability. where are they going to get the money to bail them out, ain't going to happen, especially if major funds have to purchase bonds at extremely low return interest rates. annually funds must have a minimum growth of 7-8%. up and coming huge problems coming.
The Plan to Save Truckers’ and Miners’ Pensions Is Running Out of Time
House approves $48.5 billion package offering forgivable loans to the most troubled multiemployer pension funds
By Heather Gillers
July 25, 2019 7:14 am ET
U.S. senators are gearing up for a battle over how to fix the pensions of about 1.3 million retirees and workers in trucking, mining and other industries.
These workers are covered by what are known as multiemployer pension funds, which are maintained under collective-bargaining agreements between a union and several different employers. The plans in the worst financial condition are short an estimated $100 billion to pay out retirees....