Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Unless one has a COLA'd DB pension plan? Not trying to belabor the point since this is so speculative anyway but I read a science fiction story a very long time ago that touched on that. Sorry I am clueless about title, author, etc. but the gist of it was that such a pill had been invented and pension managers all over the country were in an uproar. I read the story in the late '60's or early '70's so DB pensions were common then.
The story focused more on the societal effects (food, housing, employment, etc.) than the financial so it didn't take the financial issues very far but now I wish the author had.
I suspect that what would happen is that eventually a court would rule that if one has a COLA'd DB pension and are not going to die more-or-less on schedule then you've violated an incoherent presumption of the contract and that would make it void.
In other words, I'd have to go back to w*rk.
My pension is a COLA'd one but has a lifetime cap of 80% of initial year payment. So I guess that was enacted to keep old farts from draining the system. Doesn't look like I am getting one this next year anyways as the CPI is way under from last Julys 238 number...
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