The thing this article left out is that the people in the Public Employees Retirement System are not eligible for Social Security. PERS is not a 401(K). Retirees have no other income other than PERS. Your article is misleading because it doesn't mention this very important information. PERS cannot be compared to GM, Coca-Cola, etc., because you're talking about their 401(K) plans, which PERS is not.
Posted on June 26 at 11:48 p.m.
The thing this article left out is that the people in the Public Employees Retirement System are not eligible for Social Security. PERS is not a 401(K). Retirees have no other income other than PERS. Your article is misleading because it doesn't mention this very important information. PERS cannot be compared to GM, Coca-Cola, etc., because you're talking about their 401(K) plans, which PERS is not.