Thread: Retireeeees, F you

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  1. #11  
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    Quote Originally Posted by biccat View Post
    My FIL is a GM retiree. I don't want him to lose his retirement, but neither do I want to bail out GM. I'll happily support him if he does, but I don't expect the rest of the country to support him.


    Poor guy, he has my sympathies. :(
    You do not have to worry about your FIL losing his retirement. If GM goes bankrupt, the government pension fund (not social security) that Corporations fund will pick up the pensions of retirees. It will be less than he is getting now. Probably around 2/3 to 3/4.
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  2. #12  
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    Quote Originally Posted by lacarnut View Post
    You do not have to worry about your FIL losing his retirement. If GM goes bankrupt, the government pension fund (not social security) that Corporations fund will pick up the pensions of retirees. It will be less than he is getting now. Probably around 2/3 to 3/4.
    He also loses health insurance, a major cost.

    Although it might just be a ploy for him and my MIL to move in with us to make our lives hell... :eek:
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  3. #13  
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    Quote Originally Posted by biccat View Post
    He also loses health insurance, a major cost.

    Although it might just be a ploy for him and my MIL to move in with us to make our lives hell... :eek:
    When I was married to my first wife, her parents fell on hard times. Though they had four other children they could have stayed with, they insisted that it was us they had to stay with. I told them that only if I was able to take out big life insurance policies on both of them with me as the beneficiary. This gave them pause, They almost reconsidered, and then decided to stay anyway.

    I have never canceled those policies. :D
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