Pensions are going the way of drive-in movies and running boards. For private sector companies pensions are a competitive disadvantage in the global marketplace and are being replaced by tax-advantaged employee-owned plans (401ks and a variety of IRAs). Pensions for public employees face more funding liabilities than future tax revenue can provide and will also be displaced by employee-owned and funded arrangements.
The handwriting is on the wall and those of us with pensions are the last of a vanishing population. The Tea Party groups will see to it.
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Pensions are going the way of drive-in movies and running boards. For private sector companies pensions are a competitive disadvantage in the global marketplace and are being replaced by tax-advantaged employee-owned plans (401ks and a variety of IRAs). Pensions for public employees face more funding liabilities than future tax revenue can provide and will also be displaced by employee-owned and funded arrangements.
The handwriting is on the wall and those of us with pensions are the last of a vanishing population. The Tea Party groups will see to it.
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