82,981 of 132,502 Illinois Teachers Pay Nothing or Little into Their Pensions
http://www.freerepublic.com/focus/f-news/2701628/posts
Illinois’ credit rating downgraded after pension reform failure
http://www.freerepublic.com/focus/f-news/2924499/posts
Pension gap divides public and private workers (2007 article but timely)
http://www.usatoday.com/news/nation/2007-02-20-pensions-cover_x.htm
You can bet the politicians will be looking for ways to steal the 401k savings of the non-government retirees to fund the bloated benefits of the government retirees. The former group has nobody to defend them. The latter has politicians and unions feeding at the trough.
YEP -- they have had plenty of practice doing so over the years with Social Security.
They’re nationalizing 401k’s in stealth mode.
Check your 401k plan. If it doesn’t have a “cash option”, find out what the “safe harbor” investment is made up of.
More likely than not, it’s made up of US Treasury bonds.
If you try to go “safe” in your 401k, then, you’re supporting the bonds that the fedgov is borrowing against.