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Re: States face $1.26 trillion shortfall in funds to pay retiree benefits

By: clo in FFFT | Recommend this post (0)
Tue, 26 Apr 11 9:10 PM | 88 view(s)
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Msg. 28560 of 65535
(This msg. is a reply to 28559 by ribit)

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ribit,

Not their retirement & Medicare kicks in when they are 65. clo

McEntee added that retirees who were AFSCME members earn average pensions of approximately $19,000 per year, of which member contributions and investment returns cover 70 to 80 percent.

“They earn modest benefits after a career of service,” he said.





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The above is a reply to the following message:
Re: States face $1.26 trillion shortfall in funds to pay retiree benefits
By: ribit
in FFFT
Tue, 26 Apr 11 9:07 PM
Msg. 28559 of 65535

clo
Pew officials said the growing shortfall was driven by inadequate state contributions, an aging population and market losses that accompanied the recession.

...couldn't it be because the retirement and healthcare programs are too generous?


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