A book to educate labor people to argue for keeping their underfunded defined benefit plans with sprinklings of propaganda.
Yet pension plans cost governments less than 401(k)s for the same benefit amount. Most public pension plans are in sound financial shape despite media focus on the few that are not. (page 10)
At one point, I commented to a pension attorney that I didn’t think there were more than twenty-five people in the state who understood how the state employee pension plan worked. He agreed and then added that there were a lot more people who thought they did, especially politicians who were proposing reforms to it. (page 16)
Unless your doctor has told you you’re about to die, receiving a lump sum payment is almost always a terrible idea. (page 110)
Author(s): John Bury
Publication Date: 23 Mar 2022
Publication Site: Burypensions