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Wiz Radio™ Dec 18
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Dec. 18, Dr. Reaves discusses domestic markets, international markets, insider trading, plus other topics.

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ATWWI Portfolio Profits

December 15th-19th

TOL Profit
Mon. 1000% (Dec PUT)
TTC Profit
Mon. 490.25% (Dec PUT)
CONN Profit
Mon. 338.75% (Dec PUT)
SHOS Profit
Mon. 175% (Dec PUT)
ALOG Profit
Mon. 154.25% (Dec CALL)
AZO Profit
Mon. 129.65% (Jan CALL)
Tue. 140.75% (Jan CALL)
LULU Profit
Mon. 121.25% (Jan CALL)
WHR Profit
Mon. 28.85% (Jan CALL)
DHI Profit
Mon. 17% (Jan CALL)
USO Profit
Mon. 749.25% (Jan PUT)
Tue. 797.25% (Jan PUT)
OIL Profit
Mon. 462.50% (Jan PUT)
Tue. 495% (Jan PUT)
UGA Profit
Mon. 540.90% (Jan PUT)
Tue. 774% (Jan PUT)
XOP Profit
Mon. 93.50% (Jan PUT)
PAY Profit
Tue. 93% (Jan CALL
Within 6hrs)
Wed. 208% (Jan CALL)
NAV Profit
Tue. 130.50% (Jan CALL
Within 24hrs)
RSH Profit
Tue. 342% (Jan PUT)
Thu. 396% (Jan PUT)
CVS Profit
Tue. 227% (Jan CALL)
PLKI Profit
Tue. 181.50% (Dec CALL)
KR Profit
Tue. 165% (Dec CALL)
Thu. 215% (Dec CALL)
VIAB Profit
Tue. 156.75% (Dec CALL)
RTH Profit
Tue. 152% (Dec CALL)
XLE Profit
Tue. 122.25% (Mar PUT)
DRI Profit
Wed. 150% (Jan CALL
Within 24hrs)
FDX Profit
Wed. 118.75% (Jan PUT
Within 24hrs)
GIS Profit
Wed. 28% (Jan CALL
Within 24hrs)
JOY Profit
Wed. 26.50% (Jan PUT
Within 24hrs)
ROST Profit
Wed. 255% (Dec CALL)
Thu. 303.50% (Dec CALL)
TASR Profit
Wed. 855% (Dec CALL)
DIA Profit
Wed. 172% (Dec CALL)
Thu. 35% (Jan CALL)
QQQ Profit
Wed. 405% (Dec CALL)
Thu. 341.25% (Dec CALL)
Thu. 13% (Jan CALL)
SPY Profit
Wed. 394% (Dec CALL)
Thu. 377.50% (Dec CALL)
Thu. 47% (Jan CALL)
SSO Profit
Wed. 249% (Dec CALL)
Thu. 435% (Dec CALL)
Thu. 24% (Jan CALL)
UPRO Profit
Wed. 194% (Dec CALL)
QID Profit
Wed. 327% (Dec PUT)
SDS Profit
Wed. 380% (Dec PUT)
Thu. 352% (Dec PUT)
Thu. 33% (Jan PUT)
VXX Profit
Wed. 144.25% (Dec PUT)
VXZ Profit
Wed. 92% (Dec PUT)
SH Profit
Wed. 245% (Dec PUT)
ORCL Profit
Thu. 190% (Jan CALL
Within 24hrs)
ACN Profit
Thu. 169.50% (Jan CALL
Within 24hrs)
RAD Profit
Thu. 137% (Jan CALL
Within 24hrs)
WGO Profit
Thu. 129.25% (Jan PUT
Within 24hrs)
JBL Profit
Thu. 36% (Jan CALL
Within 24hrs)
SAFM Profit
Thu. 17.50% (Jan PUT
Within 24hrs)
CSCO Profit
Thu. 333% (Dec CALL)
MFRM Profit
Thu. 137% (Dec PUT)
HRB Profit
Thu. 144% (Dec PUT)
SCVL Profit
Thu. 113% (Dec CALL)
GIII Profit
Thu. 147.25% (Dec CALL)
BOBE Profit
Thu. 86% (Dec PUT)
TIVO Profit
Thu. 117% (Dec PUT)
ANFI Profit
Thu. 188% (Dec PUT)
PANW Profit
Thu. 98.35% (Dec CALL)
CBRL Profit
Thu. 215% (Dec CALL)
HRL Profit
Thu. 113% (Dec PUT)
PLL Profit
Thu. 44% (Dec CALL)
PLCE Profit
Thu. 147.50% (Dec CALL)
MIK Profit
Thu. 185% (Dec CALL)
DLTR Profit
Thu. 224% (Dec CALL)
CTRN Profit
Thu. 920% (Dec CALL)
TGT Profit
Thu. 295.50% (Dec CALL)
LOW Profit
Thu. 303% (Dec CALL)
WDAY Profit
Thu. 225% (Dec PUT)
JACK Profit
Thu. 111.60% (Dec CALL)
BIG Profit
Thu. 222.50% (Dec PUT)
RHT Profit
Fri. 194.25% (Jan CALL
Within 24hrs)
FINL Profit
Fri. 186.38% (Jan PUT
Within 24hrs)
KMX Profit
Fri. 148.50% (Jan CALL
Within 24hrs)
CTAS Profit
Fri. 133.50% (Jan CALL
Within 24hrs)
PIR Profit
Fri. 62.50% (Jan CALL
Within 24hrs)
NKE Profit
Fri. 55.75% (Jan PUT
Within 24hrs)
BBRY Profit
Fri. 37% (Jan PUT
Within 24hrs)
PAYX Profit
Fri. 23.81% (Jan PUT
Within 24hrs)

Wiz Daily Journal

DON’T MISS TODAY’S DECEMBER 18th, 2014

DON’T MISS TODAY’S ASK THE WIZ RADIO BROADCAST!!!

Today’s (Thursday, December 18th, 2014), ASK THE WIZ radio broadcast from 2-4pm (EST) you don’t want to miss!!! Tune in on any internet enabled device or listen “LIVE” via the internet anywhere in the world at: www.askthewiz.info

“THE WIZ” will be presenting vital information pertaining to the following economic topics: 

During the 1st hour of ASK THE WIZ

* DOMESTIC STOCK MARKET ANALYSIS

* THE “WIZ” WILL REVEAL POSITIONS THAT ARE CURRENTLY (Thursday, December 18th, 2014) GENERATING 17%-326%+ PROFIT(s) FOR THE ASK THE WIZ WEALTH INSTITUTE INVESTMENT PORTFOLIO.

* THE “WIZ” WILL REVEAL NOTEWORTHY “INSIDER TRADING” WHICH OCCURRED TODAY (Thursday, December 18th, 2014).

* THE “WIZ” WILL LIST TODAY’S (Thursday, December 18th, 2014) TOP 10 TRENDING STOCKS.

* THE “WIZ”WILL EXPLAIN THE “YELLEN” AFFECT AND INDICATE HOW IT WILL ULTIMATELY CAUSE A DRAMATIC U.S. MARKET PULL BACK.

DURING THE 2ND HOUR OF ASK THE WIZ

* INTERNATIONAL STOCK MARKET ANALYSIS

* THE “WIZ” WILL REVEAL A “CLEVER” WAY TO GET P.A.I.D. FROM THE ECONOMIC CHAOS IN RUSSIA.

* THE “WIZ” WILL EXPLAIN HOW YOU CAN GET P.A.I.D. FROM THE INCREASE IN STOCK BUYBACKS/REPURCHASING ACTIVITY.

We think you will agree, you need to tune in to today’s (Thursday, December 18th, 2014) radio broadcast!!! Like always “THE WIZ” continues to be adamant about providing the community with vital information people need to finance, obtain, and maintain their economic liberation.

REMEMBER: THERE AIN’T NOTHING “FREE” ABOUT FREEDOM!!! YOU MUST PUT YOUR MONEY TO WORK FOR YOU, NO MATTER WHAT THE AMOUNT {$1 or $100,000.00}, 24-7/365 DAYS A YEAR GENERATING REVENUE AND INCOME… 

Don’t miss today’s broadcast of ASK THE WIZ from 2-4pm (EST) “LIVE” via the internet anywhere in the world at: www.askthewiz.info .

NOTE: REBROADCASTS OF ALL ASK THE WIZ RADIO PROGRAMS ARE AVAILABLE ON DEMAND AT OUR WEBSITE: www.askthewiz.info

ATW RADIO BROADCAST DISCLAIMER

The information submitted, during the ASK THE WIZ radio broadcast, is to be utilized for educational purposes ONLY!

Consult your personal financial and/or investment advisor for trading and investing advice.

Thank you for allowing us to be your COMMUNITY SERVANTS!!!

Customer Service Department,

ASK THE WIZ WEALTH INSTITUTE, INC.

DON’T MISS TODAY’S DECEMBER 16th, 2014

DON’T MISS TODAY’S ASK THE WIZ RADIO BROADCAST!!!

Today’s (Tuesday, December 16th, 2014), ASK THE WIZ radio broadcast from 2-4pm (EST) you don’t want to miss!!! Tune in on any internet enabled device or listen “LIVE” via the internet anywhere in the world at: www.askthewiz.info

“THE WIZ” will be presenting vital information pertaining to the following economic topics: 

During the 1st hour of ASK THE WIZ

* DOMESTIC STOCK MARKET ANALYSIS

* THE “WIZ” WILL REVEAL POSITIONS THAT ARE CURRENTLY (Tuesday, December 16th, 2014) GENERATING 93%-797%+ PROFIT(s) FOR THE ASK THE WIZ WEALTH INSTITUTE INVESTMENT PORTFOLIO.

* THE “WIZ” WILL REVEAL NOTEWORTHY “INSIDER TRADING” WHICH OCCURRED TODAY (Tuesday, December 16th, 2014).

* THE “WIZ” WILL LIST TODAY’S (Tuesday, December 16th, 2014) TOP 10 TRENDING STOCKS.

* THE “WIZ” WILL EXPLAIN HOW A RECENT U.S. SECOND CIRCUIT COURT OF APPEALS DECISION MAKES “INSIDER” TRADING PRACTICALLY LEGAL.

DURING THE 2ND HOUR OF ASK THE WIZ

* INTERNATIONAL STOCK MARKET ANALYSIS

* THE “WIZ” WILL IDENTIFY 8 (Eight) STOCKS INCREASING THEIR DIVIDEND PAYOUTS.

* THE “WIZ” WILL REVEAL A “CLEVER” WAY TO GET P.A.I.D. FROM A “CLANDESTINE” PLAN BEING PUT IN MOTION BY THE GERMAN AND DUTCH GOVERNMENTS.

We think you will agree, you need to tune in to today’s (Tuesday, December 16th, 2014) radio broadcast!!! Like always “THE WIZ” continues to be adamant about providing the community with vital information people need to finance, obtain, and maintain their economic liberation.

REMEMBER: THERE AIN’T NOTHING “FREE” ABOUT FREEDOM!!! YOU MUST PUT YOUR MONEY TO WORK FOR YOU, NO MATTER WHAT THE AMOUNT {$1 or $100,000.00}, 24-7/365 DAYS A YEAR GENERATING REVENUE AND INCOME… 

Don’t miss today’s broadcast of ASK THE WIZ from 2-4pm (EST) “LIVE” via the internet anywhere in the world at: www.askthewiz.info .

NOTE: REBROADCASTS OF ALL ASK THE WIZ RADIO PROGRAMS ARE AVAILABLE ON DEMAND AT OUR WEBSITE: www.askthewiz.info

ATW RADIO BROADCAST DISCLAIMER

The information submitted, during the ASK THE WIZ radio broadcast, is to be utilized for educational purposes ONLY!

Consult your personal financial and/or investment advisor for trading and investing advice.

Thank you for allowing us to be your COMMUNITY SERVANTS!!!

Customer Service Department,

ASK THE WIZ WEALTH INSTITUTE, INC.

The 10 Best Places To Retire On Social Security Alone

MSN Money (12/11/14)

The 10 Best Places To Retire On Social Security Alone

In most places, Social Security barely covers basic expenses

If you don't have a traditional pension through your job and haven't been saving a significant amount in a 401(k) or individual retirement account, Social Security is likely to be your largest source of retirement income. Almost all retirees (86 percent) receive Social Security payments, and for over a third (36 percent) of retirees, Social Security accounts for 90 percent or more of their retirement income. The type of lifestyle Social Security alone will provide largely depends on how much you have earned in Social Security benefits and where you live.

The average Social Security benefit for retired workers was $1,294 per month at the end of 2013. A couple who each brought in this amount would have $31,056 in annual Social Security benefits, which will also be adjusted for inflation each year. U.S. News analyzed Census Bureau and Bureau of Labor Statistics data to determine where a retired couple age 65 or older could cover their basic expenses, including typical costs for housing, food, utilities, transportation and health care, on this amount.

It’s important to note that in most places, Social Security alone barely covered these basic expenses. After paying for those five major costs, retirees living on Social Security alone likely won’t have much cash left over for recreation, hobbies, clothing, consumer goods or travel. “If they are highly dependent on Social Security, it is not an easy life,” says John Palmer, a Syracuse University professor and former public trustee for the Medicare and Social Security programs. “If they own their own home and don’t have high medical expenses, they can probably get by.”

Retirees would often be much more comfortable if they had income from another source in addition to Social Security, such as personal savings, a part-time job or a traditional pension. Taking steps to maximize your Social Security benefit is also important. “Not collecting until you are in your late 60s, if you can do it, is a good idea,” Palmer says. “For every year you retire earlier than that and choose to collect Social Security, your monthly benefit is about 7 to 8 percent less, and for every year you delay up to age 70, your benefit increases by 8 percent.”

In expensive cities including San Jose, California, Honolulu and San Francisco, Social Security alone did not cover the basic costs retirees face. “I wouldn’t want to try to make it just on Social Security in New York City or the D.C. area, but in a lot of the rest of the country, the cost of living is substantially lower,” says Kenneth Robinson, a certified financial planner for Practical Financial Planning in Cleveland. “Moving has expenses that go along with it, but if you have relatives who live in a less expensive place than where you are now, you might want to consider a move.”

In these cities, a household with typical expenses and two average Social Security checks coming in could get by on Social Security income. Here are 10 places where it’s possible for retirees to cover basic costs on Social Security alone:

 

Albuquerque, New Mexico

Albuquerque homeowners age 65 and older pay a median of $1,078 per month if they have a mortgage and just $368 monthly if they have paid off the mortgage. Senior citizen renters pay a median of $686 monthly to live in Albuquerque. The city also provides many services to retirees who don’t have a lot of extra cash. There are six senior centers where people age 50 and older can become members for just $13 a year. The Albuquerque 50+ Games is an athletic competition that includes bocce ball, tennis and pickleball exclusively for people 50 and older. And New Mexico residents age 65 and older can take classes at the University of New Mexico for just $5 per credit hour.

Austin, Texas

The low housing costs in Texas are drawing people to the state. A home in Austin costs retirees a median of $1,395 monthly with a mortgage and $545 if they own their home debt-free. The median rent for retirees age 65 and older is $887 monthly. Texas doesn’t have a state income tax, but it’s important to carefully consider the property tax you might face on any home purchase. This state capital city typically has mild and sunny winters that largely eliminate high heating bills, although you may pay significant cooling costs during the hottest summer months. Seniors age 65 and older even qualify for a tuition wavier on up to six credit hours at the University of Texas at Austin.

Buffalo, New York

If you can tolerate the cold and snowy winters in this upstate New York city, you’ll be rewarded with a very low cost of living. Senior citizen homeowners pay just $466 monthly in housing costs if they have paid off their mortgage and $1,009 monthly if they are still making payments on their home. The typical rent for retirees age 65 and older is $611 monthly. The City of Buffalo also provides a senior discount card that entitles retirees to a percentage off their purchases when they shop at local businesses, including restaurants, salons and pharmacies.

Columbia, South Carolina

South Carolina’s capital city has 60 city parks and green spaces, and seniors can also get discount tickets to a variety of local attractions, including the Riverbanks Zoo and Columbia Museum of Art. South Carolina residents age 60 and older who are no longer working are also eligible for free tuition at the University of South Carolina. Housing remains affordable, costing retirees $1,074 monthly with a mortgage, $367 with a paid-off house or $801 in monthly rent. And Social Security income is not taxed at the state level.

Grand Rapids, Michigan

This small city is becoming known for its outsized art scene, which includes the Frederik Meijer Gardens & Sculpture Park, Grand Rapids Art Museum, Urban Institute of Contemporary Arts and the art competition ArtPrize. There are also plenty of opportunities for outdoor activities at the 74 city-owned parks with 1,210 acres of land, the Grand River and nearby Lake Michigan. Retirees age 65 and older pay just $684 monthly in rent. Older homeowners pay $1,080 monthly with a mortgage and $427 per month if their house is paid off. The city is also the hometown of U.S. President Gerald Ford and houses his presidential museum.

Jacksonville, Florida

Jacksonville offers balmy winters similar to other parts of Florida, but at much more affordable prices than Miami or Fort Lauderdale. Retirees age 65 and older pay a median rent of $861 per month. Older homeowners pay a median of $1,247 per month if they have a mortgage, which drops significantly to $405 once they pay off the house. The St. Johns River bisects the city and offers plenty of fishing and boating opportunities. Jacksonville is also a short drive from the Atlantic Ocean and boasts 22 miles of white-sand beaches. An added bonus: There’s no state income tax in Florida.

Pittsburgh, Pennsylvania

Pittsburgh is a world-class city that isn’t priced like one. Pittsburgh has several professional sports teams, noteworthy museums and several major colleges, including the University of Pittsburgh and Carnegie Mellon University. The UPMC-University of Pittsburgh Medical Center is ranked 13th in the country in geriatrics. But housing prices remain affordable. Senior citizen homeowners pay a median of $1,023 monthly with a mortgage and $434 when they have paid off their house. Retiree renters pay a median of $614 per month. Social Security income isn’t taxed at the state level in Pennsylvania. Plus, residents age 65 or older ride free on the bus thanks to a program funded by Pennsylvania Lottery proceeds.

Spokane, Washington

The Spokane River flows through downtown Spokane and can be enjoyed at Riverfront Park, one of the city’s numerous recreation areas for hiking and biking. Washington state does not have an individual income tax, and housing in retirement is affordable, costing just $419 monthly with a paid-off house and $1,139 per month with a mortgage. The median rent for people age 65 and older is $733 monthly. The city partially funds Project Joy, a group of entertainers age 50 and older who perform at assisted living facilities, retirement complexes and other venues.

St. Louis, Missouri

People who live in St. Louis know you don’t need to pay excessively high housing prices to live in a place with professional sports teams, museums, gardens and parks. Home costs for seniors are $1,115 monthly with a mortgage and $434 per month with a paid-off house, while renters pay a median of $664 monthly. There are also services to help seniors get to doctor appointments and the grocery store, and the St. Louis Area Agency on Aging runs a program that connects senior citizens age 60 and older with volunteers and youth groups willing to provide chores that include yard work, painting and gutter cleaning at no cost. The Barnes-Jewish Hospital/Washington University is nationally ranked in geriatrics.

Tucson, Arizona

This Sonoran Desert city is surrounded by five mountain ranges and is famous for its enormous cactuses. Retirees can take in the giant saguaros at Saguaro National Park, where U.S. citizens age 62 and older can get a lifetime pass to this and other national parks for just $10. Yet this sunny city remains affordable. Monthly rent for people 65 and older is a median of $771. Older homeowners pay $1,095 monthly with a mortgage, but that drops significantly to $366 for people who have paid off their homes. The University of Arizona offers affordable classes for seniors through its Osher Lifelong Learning Institute. Plus, the state of Arizona doesn’t tax Social Security income.

DON’T MISS TODAY’S DECEMBER 11th, 2014

DON’T MISS TODAY’S ASK THE WIZ RADIO BROADCAST!!!

Today’s (Thursday, December 11th, 2014), ASK THE WIZ radio broadcast from 2-4pm (EST) you don’t want to miss!!! Tune in on any internet enabled device or listen “LIVE” via the internet anywhere in the world at: www.askthewiz.info

“THE WIZ” will be presenting vital information pertaining to the following economic topics: 

During the 1st hour of ASK THE WIZ

* DOMESTIC STOCK MARKET ANALYSIS

* THE “WIZ” WILL REVEAL POSITIONS THAT ARE CURRENTLY (Thursday, December 11th, 2014) GENERATING 45%-410%+ PROFIT(s) FOR THE ASK THE WIZ WEALTH INSTITUTE INVESTMENT PORTFOLIO.

* THE “WIZ” WILL REVEAL NOTEWORTHY “INSIDER TRADING” WHICH OCCURRED TODAY (Thursday, December 11th, 2014).

* THE “WIZ” WILL LIST TODAY’S (Thursday, December 11th, 2014) TOP 10 TRENDING STOCKS.

* THE “WIZ” WILL REVEAL ANOTHER “CLEVER” WAY TO GET P.A.I.D. FROM THE HOUSING INDUSTRY.

* THE “WIZ” WILL INDICATE SEVERAL “BATTERED” COMPANIES POISED TO RISE AND GET YOU P.A.I.D.

DURING THE 2ND HOUR OF ASK THE WIZ

* INTERNATIONAL STOCK MARKET ANALYSIS

* THE “WIZ” WILL REVEAL A “CLANDESTINE” PLAN BEING PUT IN MOTION BY THE GERMAN AND DUTCH GOVERNMENTS THAT WILL ALLOW BOTH GOVERNMENTS TO GO BACK TO THEIR PRE-EURO NATIONAL CURRENCIES.

* THE “WIZ” WILL LIST AND EXPLAIN MULTIPLE WAYS TO DETERMINE IF THE GOLD YOU ARE PURCHASING IS REAL.

* THE “WIZ” EXPLAIN HOW YOU CAN GET P.A.I.D. FROM THE DECLINING JAPANESE YEN.

* THE “WIZ” WILL REVEAL A “CLEVER” WAY TO GET P.A.I.D. FROM “WEARABLE” TECHNOLOGY.

We think you will agree, you need to tune in to today’s (Thursday, December 11th, 2014) radio broadcast!!! Like always “THE WIZ” continues to be adamant about providing the community with vital information people need to finance, obtain, and maintain their economic liberation.

REMEMBER: THERE AIN’T NOTHING “FREE” ABOUT FREEDOM!!! YOU MUST PUT YOUR MONEY TO WORK FOR YOU, NO MATTER WHAT THE AMOUNT {$1 or $100,000.00}, 24-7/365 DAYS A YEAR GENERATING REVENUE AND INCOME… 

Don’t miss today’s broadcast of ASK THE WIZ from 2-4pm (EST) “LIVE” via the internet anywhere in the world at: www.askthewiz.info .

NOTE: REBROADCASTS OF ALL ASK THE WIZ RADIO PROGRAMS ARE AVAILABLE ON DEMAND AT OUR WEBSITE: www.askthewiz.info

ATW RADIO BROADCAST DISCLAIMER

The information submitted, during the ASK THE WIZ radio broadcast, is to be utilized for educational purposes ONLY!

Consult your personal financial and/or investment advisor for trading and investing advice.

Thank you for allowing us to be your COMMUNITY SERVANTS!!!

Customer Service Department,

ASK THE WIZ WEALTH INSTITUTE, INC.

DEAL REACHED TO ALLOW PENSION PLANS TO CUT BENEFITS

 

The Washington Post 12/10/2014

Deal reached to allow pension plans to cut benefits

A bipartisan group of congressional leaders reached a deal Tuesday evening that would for the first time allow the benefits of current retirees to be severely cut, part of an effort to save some of the nation’s most distressed pension plans.

The measure, attached to a massive $1.01 trillion spending bill, would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.

“We have to do something to allow these plans to make the corrections and adjustments they need to keep these plans viable,” said Rep. George Miller (D-Calif.), who along with Rep. John Kline (R-Minn.) led efforts to hammer out a deal.

The idea is reluctantly supported by some unions and retirement fund managers who see it as the only way to salvage pensions in plans that are in imminent danger of running out of money. But it also has stirred strong opposition from retirees who could face deep pension cuts and from advocates eager to keep retiree pensions sacrosanct, even in cases when funds are in a deep financial hole. The advocates argue that allowing cuts to plans would open the door to trims for other retirees later.

“We thought our pension was secure,” said Whitlow Wyatt, a retired trucker who lives in Washington Court House, a small city in central Ohio. “That was always the word. Now they are changing that.”

Wyatt, 70, retired with a $3,300-a-month pension in 2000 after working more than 33 years as a long-haul driver. He could face pension reductions of 30 percent or more if Congress permits trustees of the hard-pressed pension fund to slash benefits.

The deal is aimed at helping plans such as the Teamsters’ Central States fund.

The pensions earned by truckers in the fund are among the best enjoyed by working-class people anywhere: After 30 years on the road, many of its participants are entitled to upward of $3,000 a month for the rest of their lives.

But now the fund, rocked by steep membership declines, an aging workforce and downturns in the stock market, is in dire financial straits, putting the retirement benefits of 400,000 participants in jeopardy.

The deal reached would apply to multi-employer pensions, where a group of businesses in the same industry join forces with unions to provide pension coverage for employees. The plans cover some 10 million U.S. workers.

Overall, there are about 1,400 multi-employer plans, many of which remain in good fiscal health and would be untouched by the deal. But several dozen have failed, and several other large ones, including Central States, are staggering toward insolvency.

In its annual report last month, the Pension Benefit Guaranty Corp., the federal insurance program that backs private-sector pensions, warned that the problems facing multi-employer pensions could cause the safety net that secures them to collapse within the next decade.

If that happens, retirees depending on multi-employer plans for their pensions would receive nothing if their plans failed. (A separate PBGC insurance fund covering single-employer private pensions is in much better financial shape.) Even if the insurance fund survives, maximum coverage for people in multi-employer plans is minimal — about $13,000 a year.

Although it has issued similar alerts in the past, the PBGC’s latest warning seems to have pushed Congress to move from studying a policy change to actively negotiating for one in recent weeks.

The abrupt action has alarmed some pension rights advocates, who are concerned about a decline in retirement security for all Americans. They also worry about a creeping trend toward trimming pensions, citing retirement benefit cuts for government employees in Detroit and elsewhere.

But managers of deeply troubled funds say that absent a federal bailout, which they call politically infeasible, cutting benefits is the only way to save them. Last week, more than 1,300 employers sent letters to members of Congress urging lawmakers to back the proposal to allow benefit cuts.

“The longer we wait to take action, the more severe the impact on retirees and workers in the plans in the worst financial shape will become,” business leaders wrote. “The longer we wait, the heavier the burden will become on employers struggling to fund and extend these pension plans.”

That is the situation confronting the Central States plan, which was notorious in the 1960s and ’70s for being used as a slush fund for organized crime. Since then it has operated under federal court supervision and with the help of professional fund managers. Yet that has not been enough to overcome demographic and other trends that have weakened its finances.

In 1980, the Central States fund had four active participants for every retiree. Now, there are nearly five retirees or inactive members for every worker, because many unionized trucking firms have gone out of business in the decades since deregulation, Thomas C. Nyhan, executive director of Central States, told Congress earlier this year.

The fund has about $18 billion in assets and pays out annual benefits of $2.8 billion to retirees. But it receives just $700 million each year from employers. Even given the strong stock market returns of recent years, that puts the plan on course to run out of money within the next 10 to 15 years, Nyhan has said.

The fund ran into trouble during the dot-com crash of the early 2000s. Also, United Parcel Service, once the largest firm in Central States, paid more than $6 billion to drop out of the fund in 2007. Much of that money was lost when the market tanked in 2008, leaving the fund in perilous condition.

Some see cutting benefits preemptively as the only way to keep troubled plans such as Central States afloat. Under the agreement reached by congressional negotiators, retirees over age 75 as well as those who are disabled would be shielded from any reductions. Also, any benefit cuts would be subject to a vote of plan participants.

Nonetheless, many retirees feel betrayed. “I never dreamed they would pull the rug out from under us,” said Greg Smith, 66, a retired shipping clerk who retired in 2011 with a $3,000-a-month pension after 42 years on the job. “I actually retired because I was worried about them cutting pensions. I thought I would be grandfathered in with protections. But I guess not.”

The Ask The Wiz Wealth Institute is not an investment advisor. We strive to be educational and informative community servants.
 

Profits And Income Daily (P.A.I.D.™)

The Ask The Wiz Wealth Institute's proprietary P.A.I.D.™ indicator system alert allows ATWWI members to maximize profits "REAL TIME" !!!

The ATWWI P.A.I.D.™ indicator system alert notifies ATWWI members via text message, anytime / 24 hours a day / per market conditions, sent directly to their cell phones, indicating both domestic and international market conditions that are monetizable for hefty profits.

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