Idea: No more public sector pensions. Allow them to participate in a 401b or 401k plan. They would be invested in a stable functioning America. Their future would depend on it. (QRV)

submitted ago by 3273554?

Public employees should be invested in America. Their actions should be motivated on what's best for America and by extension themselves.I

"So could ours, financially. Underperforming city pensions, state pensions, federal pensions, business pension funds backed by the govt. Ask Illinois about how they will make up for their underfunded pensions.

401k will let the institution/business pay as they go without liability of pension shortfall. That is huge.* -- borrowed from below

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19141876? ago

The people who worked at Enron would disagree.

19142264? ago

Enron was not public sector. If a private company decides to have a pension, it's their business, as it's not dependent upon taxpayer's dollars. Also 401k's cannot be raided or misused for other than intended purpose like a pension fund can.

19144377? ago

Did you actually read your gibberish?
No shit Enron was not public sector. But calling for pensions to not be public sector puts them in the same boat as Enron. Some corrupt entity could fuck up the entire system. I dont like the a lot of things about our Gov't but public sector pensions have a better chance of surviving than private sector. 401ks cant be raided? Nope, but there are other ways. Look up 401k fraud over the years for plenty of examples.

19146014? ago

The people at Enron that lost money did so because some of their retirement funds were tied to Enron stock. There was plenty of corruption, but this is a different conversation. 401k's are diversified specifically for that reason. We could talk about the perils and manipulation of the stock market all day long, but the whole point of this thread is that the taxpayers are robbed with public pensions plain and simple. Aside from military, nobody should be retiring on the taxpayers dime, especially do nothing bureaucrats.

19146125? ago

nobody should be retiring on the taxpayers dime, especially do nothing bureaucrats.

Agree wholeheartedly. But these swamp creatures, on both sides, will not give that up. They dont even need to follow insider trading laws. Career politicians should all be voted out... but the likes of Pelosi have created corruption that runs deep. How does it end to restore sanity?

19147973? ago

There are loopholes that effectively allow insider trading to a certain extent. I saw it used in my previous company many time by executives and board of directors. Around the time of any quarterly reporting, they enact a "blackout period" in which employees cannot trade, with one exception. You can fill out a form in advance (403b I think) and select the day in the blackout period you would like to make a trade. To a regular employee with no foreknowledge of business events, this is basically gambling, a shot in the dark. Wouldn't you know it though, on several occasions, the higher ups managed to all time it just perfectly to catch the one day where the stock spikes to make their sales. It was sickening to watch them all cash in.

19141922? ago

Blame the satanic inversion of justice or Weinstein for that.