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Subject:  Re: Proposal to end public pensions Date:  7/11/2013  7:14 PM
Author:  jerryab Number:  428533 of 479802

Let's imagine that a private company (we'll call it Pyramid Inc.) funded its pension the way Washington funds SS.

Big difference. The SSTF is required to invest in govt securities or govt-backed securities, so that restriction is a major issue that can not be matched by the banking industry. The SSTF has demand notes--so they can be redeemed at any time.

The problem is (