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Pensions are not what they seem

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October 07, 2008 – Comments (3)

I've been saying for a quite a while that people will not be getting the pensions they think they are getting.  My assessment of this mess was that pension funds would be very hard hit.  Well, so far they've lost 2 trillion dollars.

The wisest thing would be to reassess them for what they'd actually be able to pay out based on what people have put in, and that is about half.

When the whole world has the same idea of making up the difference for pension funds in the markets, well, it just doesn't work.

3 Comments – Post Your Own

#1) On October 07, 2008 at 9:34 PM, lquadland10 (< 20) wrote:

Oh Gee thank you Dwot as if I didn't have enough on my plate. I am pulling the blanket over my head. Well not really but real good point.

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#2) On October 07, 2008 at 10:02 PM, devoish (98.60) wrote:

Maybe it would be worth raising the Social Security tax 1% in order to get it funded long enough for todays kids to benefit. Or maybe ask people to pay on earnings over $100k.

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#3) On October 08, 2008 at 2:38 AM, Ph1sh55 (28.27) wrote:

Whaaat?  How about the government just stops stealing from social security funds to pad their budgets.

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