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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: IceShark who wrote (58602)	8/25/1999 4:30:00 PM
From: per strandberg	Read Replies (1) \| Respond to of 86076

Ice, 2% of 20%? 2% of salary goes to a fund of your choice, 18% of salary goes into the hands of the greedy government, spending it now but promising to pay you back later when you retire. The exact amount is not rigidly fixed, it has slipped from max 80% to max 60% to max 40%. The money you pay each month is not earmarked for you in a personal account. We had a system that worked well when almost all were paying and just a few were receiving. The baby-boomer crisis has started to strike us here: Too many retiring, too few paying, for the government to be able to keep all those election promises. I have seen reports that the US pension funds are also estimated to run out of money in 20-30 years. Guess we are all being victims of our political systems. Regards Per S (traded on the BB (Baby-Boomer) market)