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Subject:  Re: Proposal to end public pensions Date:  7/10/2013  1:09 AM
Author:  steve203 Number:  428322 of 479745

Orrin claims this bill was his effort to prevent public employees from being shortchanged. It is also an effort to prevent municipalities from shortchanging their pension funding responsibilities.

And I have been on my soapbox for years, saying that all the schemes put forward regarding retirement savings, from Social Security privatization, to automatic enrolement in 401Ks, to automatic IRAs, to requiring 401Ks and IRAs to be rolled over to annuities at retirement, are aimed at shoveling more money into the hands of the financial industry so it can be skimmed with service fees.

This is just another vector of that agenda. Hatch's plan does nothing about the accuracy of the annuit