Pols can't keep hands off pensions

The operative phrase in Tim Baldwin's Aug. 21 letter is that pensions were "paid for." Yes, when corporations provided pensions, the money was paid upfront.

Most unions, except those for government employees, seem to provide a pension for their members. Not being in a union, I'm not sure how they are funded, but, I'm guessing, not by tax dollars (that is prior to the present administration).

As for 401(k) plans, I wish they had been available when I was working. Yes, they recently lost 40 percent of their value, but before that they doubled in value about every 10 years. And, in addition, are currently down only about 20 percent.

Yes, I want all government-paid pensions to default so they can be re-established and properly administered. The problem with government-run pensions is that our politicians (both parties) can't keep their hands off the money and spend it instead of creating a fund. As for Social Security - there is no fund. The money was spent long ago. The fund is filled with worthless federal IOUs.

Bob Finkel

Glen Ellyn