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To: roses of sharon

So my 401k which has gone up and down and up and down is to be “shared” while union pensions are to be bailed out. I get it. Private citizens get screwed when their savings plans blow out.

Pensions are a ponzi scheme. END ALL GOVERNMENT PENSIONS. Taxpayers can afford them.


8 posted on 10/13/2010 1:48:09 PM PDT by a fool in paradise (Ask yourself,where does Saudi Arabia fit on a scale of "passive" to "moderate" to "extremist" Islam?)
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To: a fool in paradise

END ALL GOVERNMENT PENSIONS


BTW, federal employees have their own retirement savings accounts. The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees that was established in 1986. It offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans.

The TSP is a defined contribution plan, meaning that the retirement income received from a TSP account will depend on how much a federal employee (and the agency through matching contributions) put into an employee’s account during your working years and the earnings accumulated over that time.

For federal employees covereded by the current Federal Employees’ Retirement System (FERS), the TSP is one part of a three-part retirement package that also includes a FERS basic annuity and Social Security.

Tapping private 401k’s without also tapping the federal employee equivalent of 401k’s would seem to raise serious constitutional and/or political issues for the Democrats.


32 posted on 10/13/2010 3:16:49 PM PDT by Starboard
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