Cry me a river.
If the company I retire from and the resulting fund managing company go under I am SOL. It has happened before and it will happen again in America. NOTHING should make federal retiree’s more safe than we citizens paying their way.
Beyond that, they should not be shocked that this is happening; looking at history, dictatorships always destroy their supporters first before going after their real opposition. Get ready folks, they will be coming for our 401k’s next right after they deep six their own.
These people are going to have to “play to get pay”...”That’s a real nice pension ya got there, be a real shame if something were to happen to it.”
“NOTHING should make federal retiree’s more safe than we citizens paying their way.”
I believe this is about federal protection of state and local pension systems, not federal retirees.
I believe that the statists will try and may even succeed. But, for a retiree to have his life savings confiscated with a "promise to pay back" will ignite a firestorm of protest. I do not how exactly or where it will all go. I could see the demand for cutting the handouts being on the chopping block.
I’m putting away money into a mutual fund, but in all honesty, I’ll be surprised if I’m able to retire without winning the lottery. After the Individual Mandate ruling, it wouldn’t surprise me in the slightest if, by the time I hit retirement age, government controls all retirement accounts and charges retirees a fee for “not contributing to the public welfare”.