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Politics : Right Wing Extremist Thread -- Ignore unavailable to you. Want to Upgrade?

To: thames_sider who wrote (6273)	3/13/2001 9:31:46 PM
From: Gordon A. Langston	Read Replies (2) \| Respond to of 59480

<Hopes he's not at risk of being moderated off yet?> I agree with much of what you say about pensions and suspect many others here do also. I doubt you will be booted if you just bow in the general direction of Texas.;)

To: thames_sider who wrote (6273)	3/14/2001 10:41:29 AM
From: Mr. Whist	Read Replies (1) \| Respond to of 59480

Re: "Defined benefit pensions are also highly inequitable." Disagree. They were set up by companies in the '50s and '60s to reward employee loyalty, since the payout generally was based on average annual salary X years of service. Converting from a defined benefit plan to a cash-balance plan discriminates against older employees, as IBM found out last year. Cash-balance pension plans are not discriminatory by themselves. What's discriminatory is terminating defined benefit plans in order to set up a cash-balance plan.