so he retired @ 60, got $20,000 for eight years and is now whining... i think i see the problem. if they weren't allowed to draw until they are 65 there prolly wouldn't be a problem with their cash flow
so he retired @ 60, got $20,000 for eight years and is now whining... i think i see the problem. if they weren't allowed to draw until they are 65 there prolly wouldn't be a problem with their cash flow
Here’s my solution for replacing pensions. Have a large employer match or fund a portable retirement fund for each employee. Fund it out of the current years budget. Upon retirement or leaving employment the employee can take the fund with them much like an IRA or 401-k. Dont fund future pensions of retired employees. Just give generous contributions to employees budgeted each year and its theirs to take when retired.
Considering these losses occurred under government supervision, I’m betting there would be more problems with cash flow than you can imagine.