Pension Bankruptcy's Across Nation

We can not Support any Bailouts of defined Benefit Pension plans. We must reform the system to defined  Contribution plans. Trillions in unfunded Pensions will critically effect State budgets, economies and the Nation! We must do this before our nation is bankrupted. We are in a critical period where if these programs are reformed we will dodge the dire outcome with much less anguish! The states facing public Pension bankruptcy under current models by 2020: Hawaii Oklahoma Arkansas Louisiana Illinois Indiana Kentucky West Virginia New Jersey Connecticut And by 2030 states included are: We can include those already mentioned and add Colorado Kansas Missouri Ohio New Hampshire New Mexico Mississippi Alabama Maryland Delaware Vermont Maine Rhode Island Michigan California Minnesota Montana South Carolina Massachusettes Idaho Wyoming Nebraska Washington Virginia Oregon Arizona Alaska That leaves the only states not facing an insolvent Public Pension fund as being: Nevada Utah North Dakota South Dakota Iowa Tennessee North Carolina Georgia Florida New York This constitutes only 10 states that will not be in jeopardy by the year 2030, bars on this study! This is with projections of state revenue and investment that may not be sustained as assumed as the economy continues to falter and unemployment remains at historically unprecedented levels since the Great Depression. The only solution is not taxation, but must be accomplished by shifting to defined contribution plans. And better yet even, allowing the employees to direct their own retirement plans, thus eliminating the government management of this system. We have life insurance, car insurance, and of course Health insurance, as well as others. This could and should be the solution that takes Precident. Can you even imagine a fire or life, or retirement, car insurance programs? It would be a debacle! The private market place will provide the solvency solution. This is based on a study by Professors Robert Novy-Marx & Joshua D. Rauh

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