Monday, May 3, 2010

70% Funded

Will be looking at this to look at why on Earth we've created a retirement system that is dependent on the fiscal health of our good state. Seems to me there could be a better way, given that I contribute 5% of my salary every year.
Posted by Mike McCabe at 4:02 PM
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3 comments:

  1. AnonymousMay 3, 2010 at 8:33 PM

    Do you think we shouldn't have a pension and we should fund our own retirement? I don't mean this sarcastically, really, want your opinion.

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  2. Mike McCabeMay 3, 2010 at 8:45 PM

    Not sure...

    ReplyDelete
  3. AnonymousMay 3, 2010 at 8:56 PM

    The big variable is amount of years you live after retirement. Pension is an entitlement until death, and a % to your spouse even after death (assuming the marriage is legally recognized by the state). Funding our own retirements cannot give us that security, and is more vulnerable to the market/economy. But maybe we'd be better off funding it ourselves, with some sort of match, like private industry. I don't know the answer.

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