Tuesday, March 10, 2015
So much for the pension crisis
Fellow blogger 'JoeMama' has a very interesting article about how a seemingly harmless development in pension regulations is, in fact, a grave danger to everyone relying on their pensions. If you might be in that position soon, I urge you to go read it in full. It's sobering stuff.
Peter
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3 comments:
But we already knew that it was idiots and financial illiterates that supported Obama. No news there.
Thank-you, sir for the very kind lead-in and the link.
An essay that goes into more detail on the 2006 pension changes can be found here: http://eatonrapidsjoe.blogspot.com/2013/09/pension-risk-transfer-strategy.html
There is much heart ache on the way. Too many people were promised far more than reality will be able to deliver.
Sanity can be defined as dealing with the world as it "is", rather than as we think it "should" be. Whining about unfairness is not a strategy that correlates with high survival rate.
Best regards, and thanks again
Joe
FROM THE ACTUAL BILL
http://www.gpo.gov/fdsys/pkg/BILLS-112hr4348enr/pdf/BILLS-112hr4348enr.pdf
This Act may be cited as the ‘‘Moving Ahead for Progress in the 21st Century Act’’ or the ‘‘MAP–21’’.
“An Act To authorize funds for Federal-aid highways, highway safety programs, and transit programs, and for other purposes.”
=> and for other purposes <=
Old man two sticks sez "be afraid..."
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