Is Your Pension Threatened? The Ric Edelman Show Highlights Debate over the Future of Public Pensions

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Controversial call on The Ric Edelman Show highlights debate over the future of public pensions

Controversy hit The Ric Edelman Show this week, when award-winning talk show host Ric Edelman ignited a debate on the future of public pensions in America.

A caller to Edelman’s nationally syndicated radio program sparked the debate. Mary Ellen, a 51-year-old, has little money in savings. But because she works for a city government, she can retire immediately thanks to a pension that will pay her $46,000 annually for life, plus provide full health care benefits for the rest of her life. While she wondered if she could afford to retire, many of the show’s listeners wondered how our society could pay for her and millions of other public employees like her.

“Given the status of our nation’s economy, Mary Ellen’s situation raises important questions,” noted Ric Edelman. “Is it still appropriate to provide full retirement benefits before a worker reaches age 66? Or should we honor the promises made to these workers, and acknowledge the sacrifices they’ve made by engaging in what are often dangerous public service occupations?”

Listen to the audio clip online:
http://www.ricedelman.com/cs/education/article?articleId=1399#audio

Read another listener’s response:
http://www.ricedelman.com/cs/education/article?articleId=1399#read

Take the opinion poll and let Ric know how you feel:
http://www.ricedelman.com/cs/education/article?articleId=1399#vote

Then, tune in to the show this weekend as the debate continues. To locate a station near you, or to learn more about personal finance, visit Ric’s web site at RicEdelman.com.

Ric Edelman has been providing financial advice to consumers for more than 20 years. He was ranked as the nation’s No. 1 independent financial advisor by Barron’s† in 2009. Ric is a best-selling author of seven books on personal finance. The newly expanded and updated fourth edition of his New York Times bestseller The Truth About Money, hits bookstores in December.

Edelman Financial Services LLC provides financial planning and investment management services for individuals and families across the country. The firm has won more than 70 financial, business, community and philanthropic awards, and currently manages $4.5 billion for consumers nationwide.

Ric Edelman is Chairman and CEO of Edelman Financial Services LLC (“EFS”). He is also President and a member of the Board of Directors for Sanders Morris Harris Group. Ric is an Investment Advisor Representative and offers advisory services through EFS, an SEC-registered investment advisor. He is also a Registered Representative of and offers securities through Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA / SIPC.

EFS offers advisory services in all 50 states and Puerto Rico. As such, these services are strictly intended for individuals residing in the United States. No offers may be made or accepted from any resident outside the specific states referenced.

†Barron’s ranking “Top 100 Independent Financial Advisors” (Aug. 31, 2009) based on assets under management, revenues the advisors generate for their firms, and the quality of their practices.

Contact:
Jacqueline Connor
jconnor(at)ricedelman(dot)com
703-227-0548

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JACQUELINE CONNOR

703-227-0548
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