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Reply to "Ford says pensions are a plan of the past"
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[quote=Anonymous][quote=Anonymous]I'm a fed and very pro pension, but [b]I see lots of young people complaining about Social Security and FERS deductions[/b] because they think they can invest it better (I am more comfortable knowing part of my portfolio is defined benefit with COLA, but I also max TSP). I think it's a shame that pensions have faded away but I don't think it's considered a big benefit anymore because it locks you into a job. [/quote] Young people are complaining because their rising taxes are used to pay for retirements for Boomers today (who always gave themselves tax cuts and thus never paid enough into the system to begin with). Basically young people are being forced to make up for the sins of their selfish parents while at the same time there will be very little left for them when they retire.[/quote]
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