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View Diary: States starting to take action on retirement security (42 comments)

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  •  It's a good idea in the wrong setting. (0+ / 0-)

    "The bill bars the task force from including in the plan any guarantees that would “cause the State of Oregon to incur any liability or obligation for the payment of savings or benefits earned by plan participants.”

    Can you imagine all of that money just sitting there ready to be picked like low hanging fruit by Republican Governors like Rick Scott? Or Republican led State Governments like the ones who have raided pension funds to which teachers and others have contributed for years?

    As always there will be no guarantees for the labor force that they will get their investments back. Even on the Federal Level, many of us are sweating Obama's brilliant "chained CPI" idea which he borrowed from the Heritage Foundation or the Koch brothers. We know he knows better. He campaigned on it in 2008 when he wanted to raise the cap on contributions.

    Yes something should be done, but not by the States who are able to elect crooks to hold the purse strings.

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