Posts Tagged ‘congress’

Hatching a Bad Idea

“America cannot continue sleepwalking into the financial disaster that awaits us if we do not get the public-pension debt crisis under control,” Mr. Hatch is set to say in prepared remarks on the Senate floor Tuesday. “The problem is getting more serious every day and cannot be remedied merely by fine-tuning the existing pension structures available to public employers.”

Mr. Hatch said his proposal, which would not be mandatory for governments, offers cost certainty for state and local governments and steady retirement income for their employees.

WSJ, July 9, 2013

Acknowledging that there is a “public-pension debt crisis” is a good first step but proposing that insurance companies fix it through deferred annuities is naive and dangerous because it ignores some basic facts:

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