Friday, March 10, 2006

The Govt. Will Keep Our Pensions Safe...

Colleen M. Kelley , president of the National Treasury Employees Union, said last month that federal employees should not have their pension accounts "used as a rainy day fund. . . . No private-sector employer would ever be allowed to do this."

[Yup. OK. -Ed.]

Retirement Fund Tapped to Avoid National Debt Limit
By Stephen Barr
Wednesday, March 8, 2006; Page D04 (Washington Post)

The Treasury Department has started drawing from the civil service pension fund to avoid hitting the $8.2 trillion national debt limit. The move to tap the pension fund follows last month's decision to suspend investments in a retirement savings plan held by government employees.


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