Trump Exaggerating Size of His Pension?

Among the revenue items in Donald Trump’s 2015 Financial Disclosure form is this:

trump-sag15

 

The 2016 form has this:

trump-sag

How did Donald Trump get a $110,228 pension that rose to $168.584 in one year under a multiemployer (union) plan? Two things of note:

  1. With a plan funded ratio of 39.02% Trump may soon be voting like an ironworker.
  2. The plan terms call for benefits nowhere near what Trump is getting.

From the latest 5500 filing:

Plan Name: Screen Actors Guild – Producers Pension Plan
EIN/PN: 95-2110997/001
Total participants @ 12/31/15: 59,359 including:

  • Retirees: 12,811
  • Separated but entitled to benefits: 19,969
  • Still working: 26,579

Asset Value (Market) @ 1/1/15: $3,214,904,514
Value of liabilities using RPA rate (3.51%) @ 1/1/15: $8,239,219,011 including:

  • Retirees: $2,786,557,150
  • Separated but entitled to benefits: $2,289,445,073
  • Still working: $3,163,216,788

Funded ratio: 39.02%
Unfunded Liabilities as of 1/1/15: $5,024,314,497

Asset Value (Market) as of 12/31/15: $3,116,558,474
Contributions: $220,702,319
Payouts: $242,767,903

As for Trump’s $168,584 annual benefit, unless this is another exaggeration, even though we have no information on his salaries or pension credits or years of service, we do have this excerpt from the plan’s 5500 attachment:

sag-benThat comes to $96,000 as the maximum possible annual benefit and you need 35 years of service to get that. The average SAG retiree gets a pension of $18,950 ($242,767,903 / 12,811) and presumably, for most of them, it did come from a second job.

11 responses to this post.

  1. Posted by Anonymous on January 8, 2017 at 12:34 pm

    Speechless……….

    Reply

  2. Posted by Anonymous on January 8, 2017 at 12:48 pm

    Heck “the deplorables” voted him into office and the ensuing mess is theirs to clean up!

    Reply

  3. Posted by George on January 9, 2017 at 6:03 pm

    “$96,000 as the maximum possible annual benefit ”

    I think the $110k Trump is reporting is the discounted value of future payments. His wife may also be a beneficiary. So he is getting like $5k for 20 years.

    BTW, Like NJ Mexico raised their gas tax.

    Police officers in Mexico got run over deliberately by truck

    Read more at http://www.liveleak.com/view?i=4bb_1483965512#jIUuuklFo4JLx2bb.99

    Reply

  4. Posted by Anonymous on January 9, 2017 at 7:10 pm

    This is Trump’s America, there are no rules that apply. Maybe there is hope for the new DOL regulations due to go into effect April 2017 regarding retirement benefit protections. We can expect nepotism in every Governors office nationwide.

    Reply

    • Posted by Anonymous on January 9, 2017 at 8:28 pm

      Hope for what’ll be repealed and not replaced? Tis the United States of Russia now!

      Reply

      • Posted by Anonymous on January 9, 2017 at 10:02 pm

        For eight years silly Republicans called Obama a socialist , Trumputin embraces Vladimir, The President of the ” socialist” federation of Russia, a murder of Syrian men, women and children. Instead of going to the Whitehouse he should be appearing at the Hague. He should be charged with human rights violations. Members of Congress who create barriers to voting rights share a lot in common with the Putin socialist shadow head of the new Trumputin Republican Party. What is the greatest threat to American democracy?

        Reply

      • Posted by Anonymous on January 10, 2017 at 9:35 am

        Jeff Sessions failed to report $4000+ income from oil extracted from his land according to the federal ethics office, why? How many ethic omissions will we hear during the Trumputin confirmation hearings. Voting rights challenges by Republicans are the first step towards ethnic cleansing, so very Russian. Lies, omissions, lies, who is eroding democracy?

        Reply

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