[Ripon]

So the woman in Alameda County (Oakland, CA) who is the county administrator and will retire this year with $404,000 a year in lifetime return for her service to the community - is "O" going to take hers - clearly that is worth more than $3 million? I'll bet big bucks she's not going to lose a dime to bama.

While this will never affect me, (at least until they lower it to the $1,000 level, LOL), I find it interesting that Obama's budget bill "allegedly" sets a limit on pre-tax retirement accounts at $3 million, for all accounts combined.
It reminds me of the bill that was talked about a while back of confiscating all retirement accounts and turning them into annuities.
I woudn't put anything past these people. We do live in interesting times.

 

[Ripon]

Well the beauty (or crime if you will) of a defined benefit plan is there is no dollar value to it. It just pays you "x" dollars for "x" number of years. The county administrator in the county that represents that beacon of success, Oakland, CA, here defined benefit for her years of service is $404,000 a year plus free health insurance for life. I gotta believe that's worth $3,000,000 right?