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.



Rolf said...

But we already knew that it was idiots and financial illiterates that supported Obama. No news there.

JoeMama said...

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


Anonymous said...


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..."