Rolling the Dice
PA Fix for Pensions: Get Me to the Casino
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  • FriendlyGoat

    AND YET, conservatives are more than willing to tell workers to embrace the 401(k) model over defined-benefit pension plans—–a deal where workers are to individually bear the gambling-in-markets risk for their entire lives, both before and after retiring.

    Too risky for Pennsylvania, the entity, you say? But always okay for workers?

    • LarryD

      401(k) is invest-up-front, and defined contribution. And once the money is vested (typically six months) it wont go away if you change employers. The old blue model of lifetime employment for government workers wont last much longer.

      Defined benefit plans are failing everywhere, so the risk to the workers there is high also. If the economy goes to h*!! no one’s pension will survive.

  • rheddles

    Corbett will be defeated this November. The response of Pennsylvanians to his proposals is as pathetic as that of the Californians to Ahnold’s five propositions. The people deserve to get what they voted for.

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