We CANNOT draw Social Security because of the SS Windfall...This is federal law.
Losing the defined benefit hurts workers. Just because others don't do it, doesn't mean that they shouldn't. CalSTRS and CalPERS are two exceptionally well-funded plans that have a high rate of return and are strong. If we move to the 401k model, then individuals will be making these investments and paying multiple fees for investment that they currently don't have to because STRS and PERS do it in lump sum. Wall Street is all for dumping the defined benefit because it would mean more money in broker fees etc. for them....
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