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Prichard Alabama - Where the Pension Checks Stopped

Article Submitted by :
Sheetiron2008_max50

tanstaafl

over 3 years ago

19 articles submitted

Source: New York Times


December 24, 2010


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  • Pug_max600_max50

    DALLASCRANE

    over 3 years ago

    19382 Comments

    Very sad. A real life horror story reducing loyal retirees to handouts and begging. It goes on and the politicians just don't get it.

  • Sheetiron2008_max50

    tanstaafl

    over 3 years ago

    120 Comments

    A former cop reduced to accepting hand-outs from bake sales and donation jars. I hope the state of Alabama (or the Federal government, if need be) pays attention to this before any retirees become homeless. If you have time, read the accompanying article. How secure is your pension plan? These people could not have foreseen that their city would go bankrupt. The article says that corporate pension plans are backed by a federal law enacted in 1974. That law does not cover public sector workers - people who spent their working years serving the public. Does that sit well with you?

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