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Just Like Social Security, the Pension System Needs Fixing

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AND a defined benefit plan?
Well! No problemo amigo! But of course defined benefit plans are insured by the federales. So if yours goes broke you can just suck on the federal chi-chi the rest of your life.
Run along now and find some cheese to go with your whine.

Chiquita Riviera 12:39AM May 07, 2011

I just received the mandatory "Annual Funding Notice" from my company's defined benefit plan. Instead of columns of data with labels understood by actuarial accountants only, it would be nice to have a recognized authority attest to whether or not the fund was actuarily sound. Then I would know something.
I'm supposed to be lucky to have a defined benefit plan, but will it be funded suffeciently to be there when I need it? It doesn't tell me in words I can understand. So what am I supposed to do, just HOPE the fund will be adequitly funded, or is "government" not there when I need it?
When employed I was promised in glossy pamplets all those beautiful retirement benefits. So corporations don't have to keep their promises?
I have to.

W. L. Head of NC 10:46AM May 06, 2011