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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (98575)	2/4/2005 7:01:08 AM
From: Lane3	Read Replies (2) \| Respond to of 793681

Many of them have no provision for inflation Retirement planning involves using a variety of tools. SS can be one of them. Defined benefit pensions with or without inflation adjustments can be another. And then there are savings, a necessary part of any retirement plan. Of course, you have to understand the tools you are using. If you're going to use SS, for example, you have to understand that, if you want to retire early, SS won't kick in until you are 62 or 65 so you have to have another tool to provide during the period between retirement and the onset of SS benefits. If you are using a defined benefit pension without an inflation adjustment feature, you have to go easy on spending down your savings in the early years so you have enough to compensate for inflation in the later years. Getting a defined benefit pension in this day and age is a blessing. That it may not have an inflation adjustment is just something to plan for and work with. Presumably these retirees knew the plan's features before they retired. If the community pulled a fast one and mislead the retirees or changed the rules and later reneged on the COLA, then they have a complaint. Seems to me that what Bush is going for here is to get people to accept responsibility for planning their own retirements. I think that's a good thing.