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To: frogjerk

OK..so part of the paycheck goes to the employee and part to retirement, but at the end of the day..with a defined benefit plan the shortfall must be made up by the taxpayer with additional taxes. That is the perfect argument for a defined contribution plan. That is the only thing that protects the employee and the taxpayer from evil doing by the politicians who have underfunded the retirements funds.


10 posted on 02/25/2011 8:17:56 PM PST by Oldexpat
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To: Oldexpat
That is the only thing that protects the employee and the taxpayer from evil doing by the politicians who have underfunded the retirements funds.

And most of the time this seems to happen when governments get union "concessions". Give them only a little bit now since the economy is in the tank, but guarantee payments to their dogs 20 years later.

43 posted on 02/25/2011 8:37:12 PM PST by VeniVidiVici (Why are public employee unions attacking taxpayers?)
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