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In FD, pension woes avoided

Officials: Tax hikes are still needed for retirement plans

January 3, 2013

Fort Dodge isn’t faced with a financial crisis fueled by pensions, but increasing retirement costs have been passed on to residents in the form of higher property taxes, according to city officials....

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Jan-04-13 3:01 PM

Iowa would do well to emulate Arizona's state retirement system where funds are managed competitively by private investment firms with balances in excess of 125% of actuarial needs returned to pensioners. My wife and I have had several such distributions in addition to our regular pensions and we never paid in more than 2% of income and two years at ZERO%. The state paaid in an equal share up to 7%. Last I read, contributions are 5% each now. If only SS had been so structured and managed instead of used for 70 years as a piggy bank by congressmen and senators to buy their re-elections. Effectively, they have transformed our retirement "insurance" premiums into a "tax" that pays current pension obligations. IT'S THE WAY THE CONGRESSES TURNS EVEN GOOD PROGRAMS INTO A SHAMBLES; yet, they - and Obama - want to micro-manage ever more of our lives. Can hardly wait!

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