June 13, 2017

DEFINE THE CONTRIBUTION, NOT THE BENEFIT:

Are public pensions a thing of the past for young workers? (Katie Lobosco, June 13, 2017, CNN MOney)

New teachers and state workers will no longer get a traditional pension in Pennsylvania.

The new plan combines elements of a traditional pension and a 401(k)-style account.
Overall, new workers will contribute more of their salary, work longer, and likely receive a smaller payout in retirement than under the current system, according to a report from the state's Independent Fiscal Office.

We are all Third Way now.
Posted by at June 13, 2017 5:31 AM

  

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