As is now becoming the common trend, the small city of Pritchard on the outskirts of Mobile, Alabama, suffered from widespread mismanagement and corruption by its city officials. (A previous mayor was removed from office and found guilty of neglect of duty.) Pritchard was forced to declare bankruptcy in 1999. Its current mayor, Ronald K. Davis, never complied with an order from the bankruptcy court to begin paying $16.5 million into the pension fund to reduce its shortfall.
Companies with pension plans are required by federal law to put money behind their promises years in advance, and the government can impose punitive taxes on those that fail to do so, or in some cases even seize their pension funds. As is now usual, the federal government did nothing to safeguard Pritchard's retirement funds.
In 2009, Pritchard stopped sending monthly pension checks to its 150 retired workers, breaking a state law requiring it to pay its promised retirement benefits in full. Most of those workers were forced to declare bankruptcy. One of these, the retired fire marshal, died in June 2010. Like many of the others, he was too young to collect Social Security. "When they found him, he had no electricity and no running water in his house," said David Anders, 58, a retired district fire chief.
Capitalism is murdering workers and the number of its victims is rapidly rising!