GMAFB - your pension is nothing but a madoff scheme financed by the rest of the idiots paying taxes. Go vote for obama you fool. When the system collapses like Madoffs' did dont look to the rest of us to pick up the pieces, you will find mostly unsympathetic people laughing at you for buying into the promises of a ponzi scheme like govt pensions are.
Really? I am no expert but I tend to keep up with the markets and world events. Back in the spring of 2007, I moved my 403B TIAA Cref fund completely into the T-Bonds ( and out of stocks). I kept making 5-6% on my money and my supplemental reriement fund is doing fine.
Imagine what would have happened to the SSN fund for seniors if they had privatized it after the crash of 2008?
My father retired with a combined Navy and cicvil service pension and was fine until he died.
his dad ( my grandad) also had a similar civil service pension from working 40 yrs on a naval shipyard.
Pensions and unions have built the most security for the working man in the USA!
Many sate bugdets were hurt by investing with the now infamous mortgage backed credit default swaps and the big banks, that went belly up.
It was the private sector schmucks from the investment banks that came hat in hand to the US Gov Treasury to bail them out!
