MONEY: Pensions are a promise that will be reneged on

Is Your Pension Threatened?
For Immediate Release
July 09, 2010

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WASHINGTON D.C., July 8, 2010 — Controversy hit The Ric Edelman Show this week, when award-winning talk show host Ric Edelman ignited a debate on the future of public pensions in America.

A caller to Edelman’s nationally syndicated radio program sparked the debate. Mary Ellen, a 51-year-old, has little money in savings. But because she works for a city government, she can retire immediately thanks to a pension that will pay her $46,000 for life annually plus provide full health care benefits for the rest of her life. While she wondered if she could afford to retire, many of the show’s listeners wondered how our society could pay for her and millions of other public employees like her.

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I’m more concerned about the trial balloon that urges the Gooferment to “save” old people from poor returns in the Stock Market by seizing all IRA / 401Ks from the custodians in exchange for an as yet undetermined “enhanced Social Security benefit”!

Wish Ric would opine on that.

We can all be in the same boat as the poor people in Zimbabwe!

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2 thoughts on “MONEY: Pensions are a promise that will be reneged on

  1. Unbelievable and ridiculous! This is a perfect example of how the gooferments of this country, fed and local, don’t get it at all. Private companies are cutting back on pensions, eliminating them, reducing med benefits or making them pay more…etc etc…the list goes on. How in the world gooferment thinks they are exempt from this is beyond me! And they think they represent the people?

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