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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1490  
Subject: Re: Retirement in danger Date: 10/27/2008 12:38 PM
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I highly doubt that anyone with a government pension will lose anything, especially at the state and federal level. Perhaps the pensions will become frozen, and perhaps they have to stop adding new employees to the defined benefit plan, but governments have something private businesses don't: the power to raise taxes to fund the pension.

I don't know about that. The Governor of 'Taxachussetts' recently proposed spending cuts, including revamping the state pension plan http://wbztv.com/local/state.budget.cuts.2.830758.html :

When asked about Patrick's proposal to revamp state pension plans, Widmer said, "Obviously changing the benefits of public employees is a very difficult proposition. On the other hand, in this kind of situation, the state is facing this may be the best time to take some kind of unpopular action."

AJ
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