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When pensions run dry...
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 792907" data-attributes="member: 12570"><p>I would be lying if I were to say that I am not counting on my pension as the major source of my retirement income. I would go so far as to say that most if not all of my co-workers feel the same way and have done little to fund their retirements.</p><p> </p><p>Our pension fund is currently in a rehabilitation plan wherein our split raises through 2/1/12 will be diverted to the pension. There are many reasons for this but the main one is the fund is simply paying out more than is coming in. If this were the case in our personal budgets we would also be forced to make changes.</p><p> </p><p>While I do feel secure that my pension will be there in 8 years I do fear that my younger co-workers may not have that same security. I also fear that workers in public sector unions may be in for a rude awakening when it is their time to retire.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 792907, member: 12570"] I would be lying if I were to say that I am not counting on my pension as the major source of my retirement income. I would go so far as to say that most if not all of my co-workers feel the same way and have done little to fund their retirements. Our pension fund is currently in a rehabilitation plan wherein our split raises through 2/1/12 will be diverted to the pension. There are many reasons for this but the main one is the fund is simply paying out more than is coming in. If this were the case in our personal budgets we would also be forced to make changes. While I do feel secure that my pension will be there in 8 years I do fear that my younger co-workers may not have that same security. I also fear that workers in public sector unions may be in for a rude awakening when it is their time to retire. [/QUOTE]
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