human
The thing missing from our current system is any kind of floor if things don't go well.  Even if you spent your whole career at the register at a McDonald's, you have what you saved (which would not be much) and a monthly Social Security check.  If you live a very long time or if something financially devastating happens to you, there's still a monthly check.
With PRS IV or TRS III, there is not.  Some people will be fine, yes.  But for people that take some sort of financial hit or that live beyond all expectation, they will run out of money and they will be out.....flat broke with zero income.
That makes picking a retirement date very difficult.
For Mr. Corbeil, yes, if the state participated in Social Security (and both the employer and employee would have to pay in) that would be OK.
It's not as good as SS right now.
gpt
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