Tuesday March 23 2010
Many retirement plans have been sort of backloaded, in that one's retirement compensation is set using the last three or five years of compensation. So, figures out a way to sit in a better paying job the last few years and it really boosts the retirement pay. Now Florida is saying no to such schemes. The problem of course is that there is no way the money paid to the system those last three to five years finances the increase in payout. Social security also suffers from this problem, as the article says, the states that cannot print money are putting a stop to this.
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