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Post by No. 1 son on Mar 22, 2019 11:01:56 GMT -5
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Post by bobathon on Mar 22, 2019 11:15:33 GMT -5
If they ran it like business, there'd be no worries. Because they would have underfunded it and then bailed via bankruptcy.
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Post by minx on Mar 24, 2019 12:53:28 GMT -5
It's easy to joke, but for a lot of state and county employees, their pension is all they have. They were made a promise when they started working - they wouldn't make great money, but they'd be taken care of when they retired. That promise is being broken, and the people who relied on it are getting ready to retire soon. In retrospect, it's easy to say that they should have opened an IRA and socked money into it. In real life, these people trusted that the government was going to take care of them in return for their hard work. It's a sad and frightening thing - I have many friends who work for public colleges in their state - they've been there through thick and thin, and now they're worried about whether they'll actually be able to retire someday
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