Monday, October 28, 2013

Underfunded pensions across the country begin to wreak havoc on retirees

A proverb from a wise book once stated, the love of money is the root of many evils.  In the secular financial world, that same axiom is transposed into a secular understanding that reads, the control of money is the control of many evils.
Which is why many Americans across the country are beginning to experience the consequences of trust and reliance upon government agencies and financial institutions when it came to their retirement.  In new programs being implemented across several states, underfunded pension funds are being re-evaluated due to the substantial losses incurred by reckless fund managers, and it is the recipients, not the pension fund managers, who are being taxed and penalized with massive payback demands for money they may have received above their monthly allotments.
 

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