Private Pension Plan
This is the first 1,000 characters of 709 words (2.84 pages) in the essay titled Private Pension Plan
|Private Pension Plan
Private Pension System
The Current Social Security system should be replaced by a mandatory Private Pension plan. There are different types of investment plans one could choose before or even after they retire. Social Security is what everyone depends on once they retire at 65. Some people may even need to work beyond the age of 65 due to the lack of money they receive from Social Security. With a Pension plan you are insured to receive the money you worked hard for and maybe even a little more, “Most pension plans are insured, but some of the smaller pension plans are not covered.”(PBGC 1)
One disadvantage about Social Security is that there is a limit on how much you can make each year, “the maximum social security retirement benefits for a worker retiring at 65 is $1,536.”(SSA 1) If you collect over this amount of money you better be ready to pay the government back big time. Social Security and your Pension Plan come out of your check each week,...
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