America’s Pension Problem

by Jeff D. Opdyke
The Sovereign Investor

So, there are these two ants…

One works in the private sector as a secretary for the company that builds anthills. The other works for the state, the Council of Ants, that oversees the anthills. These two ants are friends. They earn similar salaries and live next door to one another. Their kids play together and go to the same school. Their families gather for barbecues (grasshoppers, of course) on the weekend.

The only significant difference is one neither see, but which promises to tear their friendship apart one day — and to destroy the anthill in the process.

You see, the private-sector ant contributes 10% of her pay to the company retirement plan for which her company has no contractual obligation to assure a decent standard-of-living in her golden years.

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