Wednesday, March 23, 2005
Ooo, Oooo, Pick Me!
I know the answer to this one:
Why is it acceptable for state employees to be able to invest all of their mandated retirement savings - amounting to 8 percent of salary from employees and 10.15 percent from the state - into accounts similar to what Bush wants to make available on a much more restricted scale for young workers across the nation?
By the way, several hundred state employees - including lawmakers, top elected officials and some of their staff - have since the late 1990s enjoyed the privilege of choosing between a traditional pension and privately directed accounts.
Of the 457 officials currently eligible for the pension choice, 221 have opted for self-directed accounts.
Perhaps critics of Bush’s plan will stop their carping long enough to tell us why state workers can be trusted to make such decisions but the rest of us can’t.
The answer, of course, is that the rest of us are stoopider than state employees.
I mean, it’s obvious, really.