The now bankrupt makers of some of our favorite childhood treats like Twinkies and Ho-Hos acknowledged that it used employee wages slated for their pension plans to fund company operations.
At that point I recalled getting an unsolicited letter on 12.24.10 from Great West Retirement stating they had cut a deal with the caterer and would be attaching wages, placing them in a retirement fund which I could opt out of within a couple of days or it would become final.
Mandy Thorn, of the National Care Association, said the reason wages were low in the care home sector was that government was not prepared to fund the sector properly.
Public sector wages doubled in the period of access to the EZ in 2000 to 2010 and the state continued to fund, in fact, over fund arguably the most generous pension system in the world.