I have worked in private industry all my life as I said above. I did not say that most pension checks are annuities, but many, including mine, are. There are many types of annuities, some are paid long term and some are purchased lump sum. My company enrolls all employees pensions with the Pension Benefit Guaranty Corporation, a wholly employer/employee funded entity that receives no money from the Federal Goverment. My point was this, plans that provide for excessive annual increases in benefits that were not previously funded, as in an annuity or some othe secure financial instrument, eventually collapse from there own weight. They are nothing more than ponzi schemes similar to social security and rely on an ever increaseing number of payers to subsidize the payees. In economic times such as the present these schemes go broke.
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Today's Featured Article - A Question for Dads This recent topic from the Tractor Talk discussion board is being highlighted because it is an awesome display of the caliber of individuals that have made this site their own. The young person asking questions received positive feedback and advice from total strangers who "told it like it is" with the care many reserve for their own kids. The advice is timeless... so although it isn't necessarily antique tractor related, it will be prominently displayed in our archives to honor those who have the courage to ask and those who have the courage to respond in an honest, positive manner.
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