Tuesday, November 26, 2013

If You Had A Guaranteed Defined Benefit Program Wouldn't You Defend It?

One thing that seems to come up in the public pension discussions is the surprise that some people seem to have that folks want to defend the current system.

If you were in the current system wouldn't you defend it?

Seriously as a guy with a 401K plan, if you told me I could get defined retirement benefits that were guaranteed no matter what, I would be all over that if the benefits were right.  Who wouldn't be?  You don't have to worry about outliving your savings for one thing. There is a lot to be said for that alone, along with the protection that you get the exact benefits you were promised NO MATTER WHAT...

Heck yeah you would defend it, you would be an idiot not to...

So before you complain about the unions and others fighting a change to the pension system remember, that is what people do, they tend to act in their own best interests, it is fundamentally what makes us all people.

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