If the world collapses and y2k is severe, Cal Pers has guaranteed my retirement. It has gone up 20% in the last ten years. I am safe and compliant and wealthy.. Pass the grey poupon please..

-- fred (fred@aol.com), October 17, 1999

Answers

2% per year for 10 years and you're wealthy? NOT! You're an idiot!

-- bbb (bbb@bbb.com), October 17, 1999.

Yes, that really is an impressive return. I bet you even beat the inflation rate a few of those years. Sign me up.

-- haha (haha@haha.com), October 18, 1999.

Hi Fred:

Didn't CAL PERS have some problem just a few weeks ago wherein their administrating bank: "Mellon Bank" failed to credit about 8,000 retiree's accounts? I took great interest in the story because Mellon Bank also administers my retirement fund, "LACERA" which is Los Angeles County Employees Retirement Association. Nobody ever got rich on "COLA" What is it 3% a year? My question is: Does a Cost of Living Adjustment also mean that it adjusts downward in times of depression? I have asked this before and no one knows because the economy has never gone down since the inception of Cola. Good Luck:

Bill in South Carolina

-- Bill Solorzano (notaclue@webtv.net), October 18, 1999.