pension funds

Pensions Are Promises. States Need to Keep Up Their End of the Deal

Posted on 06/2/2014 by |AARP Blog Author | Comments

PoliticsMy Pop, a bus driver in Buffalo, worked until the mandatory retirement age of 70. He and my Mom lived on Social Security along with his modest pension. One Christmas, Pop couldn’t get into the spirit of the season. The next day, he confided that the next year health care premium increases would consume his entire pension check, and then some. I can only imagine how my parents’ lives would have been affected if Pop’s pension had been cut in …