Civil Servants to lose government pension?

[FluffyMcDeath]

Possibly.
It seems there is talk about ending government pensions and converting them into private thrift plans (where the clever folk of Wall St. will nurture and grow your money) instead for at least some government employees.

More here.

 

[FluffyMcDeath]

What if I post it from a different source? Or does everyone agree that this is a good idea so no discussion. I'm surprised I didn't hear any -"Hell Yeah! Damn civil servants got it too easy anyway" kind of comments.

 

[Dammy]

As a former US Federal Employee, the actual retirement system (not including the massive benefits for retirees) is pretty damn weak. What make the real heavy punch in Federal Employee's retirement plan is called the TSP (Thrift Savings Plan). The GOP probably wouldn't mind seeing the TSP expanded, but in 2008, The progressive Democrats wanted to do the very opposite: http://online.wsj.com/article/SB122662401729126813.html

It's not going to really matter after this upcoming financial collapse, high to hyper-inflation and the stock market dropping by half or more is going to make any retirement a living hell for most American retirees.