Retirement plans have been there to benefit the retiring officers that have served the nation for quite long now. It doesn’t matter what your occupation or designation might be, if you have been a servant of the federal government and of the country of large then you deserve (and are given) the compensation post-retirement that you deserve. There have been offered many state- level retirement plans too that are available for all the private sector employees and workers but strikingly there hasn’t been a single officer/employer that has got themselves enrolled in a plan from any of the five states that proposed some good plans.
State retirement plans? Why not?
The reason is clear and simple: States are way too cautious of the intricacies and the complicated details not to mention the costs involved in providing excellent and full fill able promises to the employees in the retirement domain. Take California for example; they have been undergoing these matters for over three years now and we haven’t been presented with a solution.
There are other problems present as well. The goal of these plans are to make workers happier and to present them with access to accounts where they can save some money prudently. But there are other feasible solutions like “My retirement account” program among others right now that are very transparent and have no real subscribing costs. This makes workers think and naturally they ask themselves why they should be taking risks with these state-level experiments and not just go with the proven programs.
Here we get some points to ponder and some food for thought; are these programs and plans really necessary and whether they should even be trusted or not? Here’s hoping that because they are for the better of the community, they end up becoming more transparent and fruitful.
