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From: MisterVball
Date: 04 Sep 2010
Time: 03:59:06 -0700
Remote Name: 24.62.45.223
Taxpayers don't pay directly into these retirement funds. It's slightly more indirect. The government promises to pay a "defined benefit" pension plan. The total amount paid out typically exceeds total amount paid in by the employee (plus investement gains). That difference is paid for in the operating budget which in turn is paid for by the taxpayers. These unfunded liabilities are putting a huge pressure on government budgets.