PFRDA

Should we replace public pension system with social security and 401k that would?

lessen the problems both systems (SS and PP) are experiencing. Namely, SS will be infused with new funds and PP will meet their commitment because public employees would begin to contribute towards their own retirement funds.

Public Comments

1. The problem with SS/401K/IRA aren't the plans, it's who is administrating the plans. When SS began, the retirement age was 65, while the average life expectancy was 62. While life expectancy rose to 75 and over, the retirement age was not raised. In fact, we let people take it earlier. 401K/IRA's are mainly managed by people the individual investor knows nothing about, rather than researching and learning how to allocate the funds them-self.