Keyword: definedcontribution

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  • Battle Looms Over Huge Costs of Public Pensions (Class warfare is on the way!)

    08/06/2010 6:07:17 PM PDT · by Libloather · 51 replies
    NY Times ^ | 8/06/10 | RON LIEBER
    Battle Looms Over Huge Costs of Public PensionsBy RON LIEBER Published: August 6, 2010 There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide. The have-nots are taxpayers who don’t have generous pensions. Their 401(k)s or individual retirement accounts have taken a real beating in recent years and are not guaranteed. And soon, many of those people will be paying higher taxes or getting fewer state services as their states put more money aside to cover...