Eliminate defined benefit pensions

January 17, 2013 

Your report on pension reform (Jan. 13, Opinions) was a good overview of public pensions. However, the section on the chart titled "What is total liability for pensions" should have been qualified as "estimated."

The defined benefit public pension system estimates a future liability and intends to pay it with estimated future earnings on today's investments.

It's a crapshoot and the odds are against us.

The only way to have real reform is to eliminate the defined benefit program.

Everyone should be responsible for their own estimated retirement earnings and funding.

TIM RAGSDALE

Modesto

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