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.



Modesto Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service