Talk of The Villages Florida - View Single Post - Under a State Retirement System? Might Want to Read About the Chaos in Ohio.
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Old 06-01-2024, 03:17 PM
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Flyers999 Flyers999 is offline
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This thread is nonsense. Pensions are protected by ERISA, which is a federal law that sets minimum standards for retirement plans including establishing detailed funding rules that require plan sponsors to provide adequate funding for your plan.Also, it requires accountability of plan fiduciaries. ERISA generally defines a fiduciary as anyone who exercises discretionary authority or control over a plan's management or assets, including anyone who provides investment advice to the plan. Fiduciaries who do not follow the principles of conduct may be held responsible for restoring losses to the plan.

See, the OP is out of ..... wait,..... upon further review, ERISA only applies to private industry, it looks like the government can do whatever they want with your money.

Never mind.

Last edited by Flyers999; 06-16-2024 at 04:06 PM.