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Opinion: Speaking of underfunded pensions, would your money be safe in a state retirement trust fund?

HARTFORD, Conn. – It is true that collectively we are not saving enough for retirement, but the “Retirement for All” bill making its way through the statehouse is not the answer.

The bill would create a state-run retirement fund for low-income workers who would be automatically enrolled in the plan. Small businesses with as few as five employees would have to set up the deductions, which would only stop if employees opt-out, which they would have to do every two years.

Reading through the public testimony in favor of the bill is like a tour through left-leaning activists’ belief that we take a passive role in our own economic well-being. They say we have a “lack of retirement security,” the current system “denies workers dignity,” that “everyone deserves a secure retirement,” and that we need to “protect retiring workers.”

Really, what all of us need to do is take an active role in preparing for retirement — and we already have the tools at our disposal to do just that.

See the complete story at CT News Junkie.

Comments

2 responses to “Opinion: Speaking of underfunded pensions, would your money be safe in a state retirement trust fund?”

  1. anon

    Why have social security on top of this then?

    How many ways can businesses spell ‘RUN’ as fast as you can, anywhere but in Connecticut.

    Saying that this is a dumb idea is too kind.

  2. Lifelong Teacher

    If you are a teacher in CT, you have no choice. And unlike others, we are not allowed to participate in Social Security.

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