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WSJ: Congress Is Going After Your Pension, Not Theirs

Quicklink Submitted By   Follow Me on Twitter     Message Susan Lee Schwartz     Permalink    (# of views)   3 comments

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View Ratings | Rate It Headlined to H3 4/24/17

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'Congress is  considering whether to reduce the benefits of contributing to a 401(k) and similar retirement plans — even as Congress members bask in the safety of the pension system that taxpayers fully fund. The lucky participants in the best retirement plans around are coming after yours with a meat cleaver. 'In the next round of tax reform, it’s not really a question of whether retirement plans will get a haircut, but of how much,”  Eliminate or restrict any of the four legs: a traditional pension, a 401(k)-type plan, Social Security and supplemental savings in taxable accounts, and you make  a secure retirement more challenging. Yet that is what Congress, perched securely on its own, cushy taxpayer-funded four-legged stool, is considering for the rest of us.” 

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)

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