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Re: [Pen-l] Other side of auto/Pension Fund Crisis in the US



Waistline2@xxxxxxx wrote:

"Just like the social security trust fund, pension funds are money that belongs to the workers who are required to contribute into them out of their payroll deductions and matched by public funds as part of workersâ employment benefits. These funds are not charity payments from government employers. They are compulsory savings of public sector workers."

Social security payments are not savings. This is totally erroneous. Are pension fund payments "savings" that belong to the individual. I think that this would depend on whether the plan was defined benefit or defined contribution.

CHAD
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