Wednesday, February 11, 2009

Retirement Plans

Ah, no retirement plans for me now that I have seen the results of the class action shareholder lawsuit I was involved in for my former employer today!! Retirement was on my mind -- public employee pensions to be exact -- when I read the "Top 25 List" in the Twin Cities Business Journal recently which listed the 25 largest "Government Agencies" in Minnesota.

Here are the agencies this posting is focused on:

#5 - Teachers Retirement Association
#6 - Public Employees Retirement System
#10 - Minnesota State Retirement System

To manage these agencies there are 250 full time employees who simply process public employee pensions paid for with our tax dollars of course.

Here is a government reform idea that will no doubt be killed in a legislative committee somewhere -- let's combine these three agencies into one thereby reducing operating costs and leveraging new investment opportunities by aggregating the funds involved?

Reform is needed,

(reminder to readers -- I primarily blog here now:

No comments: