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Subject:  Re: Proposal to end public pensions Date:  7/11/2013  10:18 AM
Author:  jerryab Number:  428471 of 536537

Defined contribution the employee has the say and control of where their money goes.


Defined benefit the employee has no control, is at the mercy of numerous faceless entities and in the end hopes the taxpayer will bail them out when things fail.

As long as the benefit is paid, the employee receiving the benefit does not care *how* the money was obtained to pay it. The problem arises when the benefit becomes due and it is NOT paid to the employee. Therein lies the problem. If management is to be paid,so are ALL the employees (past AND present) who are owed money.
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