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senate Bill S. 2318

Should Criminal Fines Paid by Financial Institutions Go to Funding Failed Pensions?

Argument in favor

The PBGC needs additional revenue to remain solvent. Imposing fees on financial institutions convicted of financial crimes that are seeking waivers to manage retirement funds is a sensible way to make sure that these institutions pay for their crimes while stabilizing funds that may have been harmed by their misconduct.

KansasTamale's Opinion
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11/23/2018
If the financial institution had something to do with the failure of the pension, THEY SHOULD PAY!!!
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A's Opinion
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11/23/2018
We need to do something to keep America on par with other developed nations. We’re defrauding our baby boomers out of their pensions. We must do something.
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Dena's Opinion
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11/24/2018
If the fraud comes from the company itself, of course they should fund the pension funds. Why should employees suffer because their company are crooks.
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Argument opposed

This bill violates an existing regulation, and also does not necessarily create much new revenue for PBGC, as the minimum fee of only $1 million is a drop in the bucket against PBGC’s $76 billion deficit. Additionally, imposing fees on financial institutions seeking exemptions may just drive them away from seeking to manage retirement funds.

Deborah's Opinion
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11/24/2018
Everything has to be funded. Get the rich to start paying higher taxes!! They have the money!!
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TuckerWantsLiberty's Opinion
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11/24/2018
Stop using the justice system to subsidize failure. Criminal payments should go to the victims of the crime, not to trying to keep union and government pension plans from facing their inevitable demise.
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David's Opinion
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11/24/2018
The top 1,400 tax payers pay more in tax that the bottom 50% of tax payers. We should go back to the biblical model of equality! Right Libs! Equality! Every one pays 10% of what they earn to the federal Gov’t. Once we do that, you WILL have lower spending, a balanced budget, and few domestic welfare programs. Everyone would help by pulling their own weight.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Health, Education, Labor, and Pensions
    IntroducedJanuary 17th, 2018
    If the financial institution had something to do with the failure of the pension, THEY SHOULD PAY!!!
    Like (95)
    Follow
    Share
    Everything has to be funded. Get the rich to start paying higher taxes!! They have the money!!
    Like (63)
    Follow
    Share
    We need to do something to keep America on par with other developed nations. We’re defrauding our baby boomers out of their pensions. We must do something.
    Like (50)
    Follow
    Share
    Stop using the justice system to subsidize failure. Criminal payments should go to the victims of the crime, not to trying to keep union and government pension plans from facing their inevitable demise.
    Like (32)
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    Share
    If the fraud comes from the company itself, of course they should fund the pension funds. Why should employees suffer because their company are crooks.
    Like (29)
    Follow
    Share
    The top 1,400 tax payers pay more in tax that the bottom 50% of tax payers. We should go back to the biblical model of equality! Right Libs! Equality! Every one pays 10% of what they earn to the federal Gov’t. Once we do that, you WILL have lower spending, a balanced budget, and few domestic welfare programs. Everyone would help by pulling their own weight.
    Like (28)
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    Yes. Use fines paid by financial institutions to fund pensions for workers.
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    I find it so amusing how some of the conservatives here are saying, "Yay! Let's do it!" and some of the others are saying, "Nope! More Democratic stupidity." Which is it, folks? *laughs* Institutions found guilty of financial crimes should definitely be made to fund those who may have been harmed by their crimes. Besides prison, I can't think of a better deterrent than making criminals pay restitution in big dollar signs.
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    Absolutely yes !
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    Failed retirement funds are a tragedy for people and I like to see them get something.
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    How can you tell the difference between minor and major surgery? Major surgery is when its on me. Same idea pensions aren't a big deal unless you are the recpient. CEOs single handedly destroying workers pensions by receiving exorbitant bonuses for themselves. It happened at Morrison Knudson based in Boise. Seems to be a common practice of the rich stealing from the middle class.
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    As a person who had his pension defaulted on by his company, I understand firsthand how companies shed liabilities such as pensions to create more capital for the business. The workers bear the brunt when companies get rid of pensions. If companies are fined for illegally activities, refunding pensions would not only be a good idea but a form of justice for the workers.
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    Why not?
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    S. 2318 AKA the Pension Stability Act I’m in support of this Senate bill S. 2318 AKA the Pension Stability Act — would generate new revenue for the Pension Benefit Guaranty Corporation (PBGC), which insures multi-employer and single-employer pension plans. P.S. as long as the monies go to the employees and not padding Union Pockets for Democratic supporting benefits. It would impose a minimum of a $1 million fee on financial institutions convicted of financial crimes seeking an exemption to manage retirement plan funds. The proceeds of these fees would be collected by the Dept. of Labor (DOL) and sent to the PBGC for the multi-employer program until the multi-employer program is in a substantially similar financial condition as the single-employer program. At that point, the collected fees would be divided equally between the two programs. SneakyPete..... 🤔🤔👍🏻👍🏻. 11*23*18.....
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    Pensions need to be fully funded. If a company’s pension fails, the company needs to be be deeply fined with all proceeds going to its pension plans. No company should be allowed to disaggregate itself from its pension plans.
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    Why Not! Giving the fines to the government does nothing for the workers that are being screwed over.
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    That would be a GREAT idea!!
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    Of course. Why should a corrupt financial institution, not have to fund their employee pensions! Send the fines to the PBGC.
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    No. Fines should be distributed to the injured parties.
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    The penalties on financial institutions for criminal activity are already too low as it is! If they don’t want to manage retirement plans then they should help to pay for these plans so that seniors can have a comfortable retirement in spite of the recklessness of our financial sector.
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