Pension Bills On Hold

There are three major pension laws on hold until Congress reconvenes September 9.  BenefitsPro laid out their chances:

  1. SECURE Act several holds on the legislation, based on non-retirement provisions in the bill and reportedly placed by Senators Ted Cruz, R-TX, and Pat Toomey, R-PA, have stalled it, leaving its imminent passage in doubt.
  2. Butch Lewis Act the bill stands little chance of passing in the Republican-controlled Senate…”This is a moral hazard if I’ve ever seen it, because we’ll do this for $100 billion, we won’t fix the problem, we don’t do anything to get at the root cause that brought us here, and there will be a line as long as the eye can see to bail out the next $100 billion, and the next $100 billion,” said Rep Jodey Arrington, R-TX, on the House floor preceding the vote.
  3. Retirement Savings and Security Act “It takes a kitchen sink approach,” said Mercer’s Manville of the…Act. “It’s waiting in the wings until Congress can finish the SECURE Act. There’s not much in the bill that is controversial – Senators Portman and Cardin said they are open to suggestions.”

21 responses to this post.

  1. Posted by NJ2AZ on August 1, 2019 at 9:09 pm

    my old man seems keen to raising the age to have minimum distributions to 72…so its not all bad i guess 😀

    Reply

  2. Off topic….hey Stanley. June just came in as the hottest June the earth has seen since they started keeping records. July will follow when the data is calculated. This is not an isolated incident. It is a trend during both summers and winters that is coincidending with a huge run up on the past century in terms of fossil fuel burning. Anyone who has grown up in NJ can tell the difference from when they were a kid. Here is where i diverge with the GOP view. (As well as w pensions I suppose)
    I truly believe climate change is completely man made and I believe it should be our biggest problem to solve. Not saying Green Deal etc. but she is not wrong when she says this is a huge problem. I’m tough on crime and lean right on most things. . The environment is the exception. I have kids and hope that We can contain this issue.

    Reply

    • Posted by Rex the Wonder Dog! on August 2, 2019 at 12:44 pm

      This is not an isolated incident. It is a trend during both summers and winters that is coincidending with a huge run up on the past century in terms of fossil fuel burning.
      How do you know this is not part of a normal “weather cycle” EG??? …

      BTW, I am hurting from laughing at your “coincidending” comment…When I see such language I ALWAYS think of Leo Gorcy and his dialog on the Bowery Boys/Dead End Kids/East Side Kids movies ….. I am PO’d because every 5 years or so Turner Classic Movies will run all, or most, of the Bowery Boys shows (like 48 or 50 shows) every Saturday morning for a year straight and they just ran 4 straight,but have stopped at 4. I love Slip and Satch …

      Reply

      • Posted by E on August 2, 2019 at 1:45 pm

        Lol. My policy is not to point out typos as I, at least type this stuff on an iPhone. So as long as I understand it, I get that it happens. Coinciding should’ve been the word. But I’m glad I gave ya a chuckle.

        Reply

  3. Posted by stanley on August 2, 2019 at 11:02 am

    “hey Stanley. June just came in as the hottest June…”

    It was quite warm in Europe and I’m reading that it has been warm in Alaska. In N NV, it has been extraordinarily mild. I’ve used my home AC for less than an hour this summer. Usually 4-5 hours. My electricity bill in AZ has been less than last year. We haven’t had a 100 degree day so far in N NV and it looks like there won’t be one. This is all just weather. We should be so fortunate! What if we were heading into a new ice age? There almost certainly will be one.

    “I truly believe climate change is completely man made…”

    Epistemological problems! Young man! Learn how to think!

    For a good laugh go here: https://wattsupwiththat.com/ Friday funny! Only twelve years until we have a new set of dooms day predictions!

    Reply

    • First off….I’m 48 years old and you are free to call me young man as often as you wish. Lol. That doesn’t happen to often anymore.
      Second off…while I agree that AOC plan is way to radical, we should not be going about this with our head in the sand. The entire planet average temp and ice melt is at records almost year after year.
      The thing about science is, unlike opining about whether a cop gets paid to much, it is built on facts. Not opinion!!! The evidence is overwhelming. 99% of all scientists agree the climate change is real and is caused by man.
      Perhaps the best gift the millennials can give the planet is not having as many kids as Gen X did.
      While northern NV may have had a cool month, the planet as a whole did not. Anyone who grew up here more than 30 years ago can tell the difference.

      Reply

      • Posted by stanley on August 2, 2019 at 4:17 pm

        ” The evidence is overwhelming. 99% of all scientists agree the climate change is real and is caused by man.”

        Highly incorrect, young man! The truth is that 99% of so called scientists who are cashing in on the global warming bonanza support the global warming bonanza. Make that 100% And 100% of the control freaks hoping to grow the government and further the control of our lives also support the sham. If you want 80F year around weather buy a boat and move to Montego Bay.

        The increased CO2 (carbon dioxide) is largely positive. More plant growth and abundant wild life. I would guesstimate that 70% of Phoenix residents are there the year around. And they always have temperatures that exceed what you guys or Europeans have experienced. Hell man! Turn on the AC, for crying out loud.

        Just think of all the people who would prefer to deal with warm temperatures rather than the difficulties that they did face. Like those who moved west in oxen drawn wagons. They had it rough. Do you think they were worried about global warming?

        Of course we should continue driving our cars or trucks.

        Reply

  4. Posted by Rex the Wonder Dog! on August 2, 2019 at 12:36 pm

    Butch Lewis Act the bill stands little chance of passing in the Republican-controlled Senate…”This is a moral hazard if I’ve ever seen it, because we’ll do this for $100 billion, we won’t fix the problem, we don’t do anything to get at the root cause that brought us here, and there will be a line as long as the eye can see to bail out the next $100 billion, and the next $100 billion,” said Rep Jodey Arrington, R-TX, on the House floor preceding the vote.
    Exactly as I said. Although I did HESITATE for a minute or two when John said that an “election year” could change things and pass it with Senate AND Trump support. I would never expect the Senate to pass, or Trump to sign if it did pass the Senate. BUT….In an ELECTION YEAR anything is possible. It is still “possible” IMO< but very improbable.

    Reply

    • Posted by PS Drone on August 2, 2019 at 4:49 pm

      At this point, it almost does not matter. We are all on the fiscal Titanic and such a ridiculous bill will do nothing more than speed up the inevitable.

      Reply

      • Posted by NJ2AZ on August 2, 2019 at 5:33 pm

        you got that right.

        i suspect the endgame will be more ‘quantitative easing’ (but on steroids) and some stagflation. not sure we’ll get a full on depression but lots of people who expected to have very cushy lifestyles will end up disappointed

        Reply

        • Posted by PS Drone on August 3, 2019 at 7:21 am

          Agree. The Feds have only two choices; default or print. Since increasing the money “supply” is inflation by another name, they will just suck out all of the “taxes” they need by merely reducing the value of the $ they send to you. You get what they promised, but you can’t live on it.

          Reply

    • Posted by Anonymous on August 2, 2019 at 10:26 pm

      Why won’t it pass if voted on. There are 45Ds and 2 Is = 47 votes. 4 Rs vote for it they’ve got 51.

      Reply

      • Posted by stanley on August 3, 2019 at 12:04 pm

        It’s unlikely that the senate will pass “The Butch Lewis Act” They. might pass some reduced version that supports the MEP PBGC and possibly increases the amounts allowed for reduced benefits. It would have to go through the joint conference committee for a bill that both could vote on. (I’m speculating.) If the senate passes something quite modest, the house might refuse to go along. I’m thinking that the house passed Butch Lewis so that they could negotiate from a strong position.

        With so much money being spent, it’s hard to see any serious spending restraint until reality steps in and issues some imperatives of its own.

        Reply

  5. Posted by Anonymous on August 3, 2019 at 11:15 am

    GREED KILLED THE WORKING CLASS !!! IF WE DON’T GET OUR PENSION’S IT WILL GET VERY UGLY.STARTING AT THE TOP DOWN.!!

    Reply

    • Posted by PS Drone on August 3, 2019 at 12:16 pm

      Two things – 1) you will get your pension, it just won’t be able to pay for very much. 2) Before you accuse others of greed, you might want to look in the mirror.

      Reply

    • Posted by Anonymous on August 3, 2019 at 2:34 pm

      What are you suggesting Anonymous at 11:15? Do tell.

      Reply

    • Posted by Anonymous on August 3, 2019 at 2:39 pm

      If he is union a retiree, he may not get his pension, or much of it. Since you know absolutely nothing about “Anonymous” you may be be painting a broad stroke with the greed brush.

      Reply

  6. Posted by Anonymous on August 3, 2019 at 2:46 pm

    Sorry state of morons that run our country

    Reply

  7. Posted by Anonymous on August 3, 2019 at 7:45 pm

    Anonymice RULE!

    Reply

    • Posted by Rex the Wonder Dog! on August 4, 2019 at 11:42 pm

      Anonymice RULE!
      There is a web surfing site called annonymouse.com that hides your ISP addy! Get it, mouse!!!!

      Reply

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