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Subject:  Re: Proposal to end public pensions Date:  7/10/2013  11:53 AM
Author:  jerryab Number:  428360 of 479890

2) At the end of the year, the municipality buys a fixed annuity for that one year of service from a PRIVATE insurance company. Say it is MetLife or AIG or Prudential.

I am the one who kept saying the cash needs to be paid to employee and let him/her decide what to do with the money. Thus, the municipality