Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.2 9/18/84; site meccts.UUCP
Path: utzoo!lsuc!watmath!clyde!cbosgd!ihnp4!stolaf!umn-cs!meccts!mvs
From: mvs@meccts.UUCP (Michael V. Stein)
Newsgroups: net.politics
Subject: Re: Re: Social Security vs Social Welfare
Message-ID: <270@meccts.UUCP>
Date: Tue, 12-Nov-85 21:16:10 EST
Article-I.D.: meccts.270
Posted: Tue Nov 12 21:16:10 1985
Date-Received: Sun, 17-Nov-85 22:02:59 EST
References: <756@whuxl.UUCP> <29200244@uiucdcs> <361@whuts.UUCP> <1270@mhuxt.UUCP> <784@whuxl.UUCP>
Reply-To: mvs@meccts.UUCP (Michael V. Stein)
Organization: MECC Technical Services, St.Paul, MN
Lines: 21

In article <784@whuxl.UUCP> orb@whuxl.UUCP (SEVENER) writes:

>The fact that current payments to Social Security are used to pay
>retirement benefits to current retirees is a potential problem
>for the Social Security system as the very large baby boom population
>comes to retirement to be supported by a much smaller generation of
>younger workers.
>But this problem and this practice is no different than that used by
>banks, insurance companies or other pension and disability funds.
>
>-tim sevener  whuxn!orb

Totally *false*.  All pension funds/annutities are operated on an
actuarial basis.  They certainly do not operate by paying
off the retirees with current payments. 
-- 

Michael V. Stein
Minnesota Educational Computing Corporation - Technical Services

UUCP	ihnp4!dicomed!meccts!mvs