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Re: “Brother, Can You Spare $2 Billion?

Actually, the PERS pension system is entirely self supporting, and has NOTHING to do with any government, other than the fact that participation in the program is limited to those who are public employees. Like a credit union, the rule exists only to place limits on those who can give money to the program. Once the money has been placed in the account, it is like any other bank, 401K 403b, etc.
The money does not belong to the government, and the government should raid all private sector banks at the same time it decides to raid this private retirement fund.

Posted by gurujulp on 08/20/2010 at 2:18 PM

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