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Author: ziggy29 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: Re: 401(k)s are too risky for retirement Date: 5/8/2012 5:12 PM
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>> Those few industries that have forced retirement are covered by government pensions so this story smacks as dishonest from the start. <<

And did you notice the blurb about the author?

Yvonne Walker is president of the Service Employees International Union (SEIU) Local 1000, which represents 95,000 California state employees.

This is just another "pay more taxes to preserve my pension" ploy by the SEIU. They don't give a damn about whether the rest of us can retire or not. They'd prefer we *not* be able to so we can keep working and pay more and more taxes for their retirement that we'll never see ourselves.

Not to mention that we already have "portable pension plans" in the form of 401K/IRA plans with the **option** to convert to an SPIA upon retirement. Perhaps it's the "optional" part she doesn't like, along with the fact that she would have to take the risk of underperformance, not the employer or taxpayer.

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