Page 27 - Contribution Plans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> well, you know, the people out in front of the bell city council meeting most are mex man americans and now what they were shouting in spanish gets out, i'm with them. >> paul: kim, does jerry brown, can he make this an opportunity, he's running for governor now, right. >> yeah. >> so he's got to look like he's on this case. is he proposing enough reform to be credible in the governor's race? >> not at all. he's proposing traditional things, we're going to raise retirement rates. we're going to cut back benefits a little bit. what needs to be done here, the public sector unions have got to ...

>> dan. >> well, you know, the people out in front of the bell city council meeting most are mex man americans and now what they were shouting in spanish gets out, i'm with them. >> paul: kim, does jerry brown, can he make this an opportunity, he's running for governor now, right. >> yeah. >> so he's got to look like he's on this case. is he proposing enough reform to be credible in the governor's race? >> not at all. he's proposing traditional things, we're going to raise retirement rates. we're going to cut back benefits a little bit. what needs to be done here, the public sector unions have...

This bailout, too, some of them. >> if we were living in the same world, companies would be encouraged or maybe enforced to go to what they call defined contribution plans. >> like a 401(k). >> exactly. >> where you control the money. >> you put the money in and you control and then what you get in the end is how you managed your money over time. instead, they want to stick with these defined benefit plans which sound good because they take all of the-- >> which guarantee basically a set payout per month for the rest of your-- for retirement years. assuming. >> yeah. >> they stay solvent, but ...

This bailout, too, some of them. >> if we were living in the same world, companies would be encouraged or maybe enforced to go to what they call defined contribution plans. >> like a 401(k). >> exactly. >> where you control the money. >> you put the money in and you control and then what you get in the end is how you managed your money over time. instead, they want to stick with these defined benefit plans which sound good because they take all of the-- >> which guarantee basically a set payout per month for the rest of your-- for retirement years. assuming. >> yeah. >> they stay solvent, but ...