The U.S Government's private pension insurance program is in financial straits. Their deficit reached a record $8.8 billion at the end of Aug. 2003. The Government's Pension Benefit Guaranty Corp (PBGC) reported a deficit of $5.7 billion by July 2003 and then jumped in August.
The PBGC insurance fund comes from premiums paid by private companies that run their own pension programs. It is not intended to be funded by tax dollars. With the failure of American businesses the heat on the PBGC going up!
PBGC estimates that it is under funded by $350 billion to cover private pension programs that it is responsible for. Some pension plans are in such bad shape that $80 billion worth of them may have to be paid by the PBGC. Here is a startling chart from the PBGC
One fix is very unpopular with retirees! Legislation has been proposed that would reduce pension pay to retirees in the next 2 years by 10%! Ed Note: Social Security won't be far behind so hang on to your hats! It is up to you to develop diverse streams of income! Article source: Congressional Budget Office and report to Congress. Click this link to go to Congressional report >> http://www.mlmwatchdog.com/Report_MLMIsGood.html
Right now today, hundreds of thousands of hard working Americans are supplementing their retirement plans by contributing two to five hours per week to their self directed supplemental retirement security plan commonly known as MLM. Many are already receiving $500 to $2500 per month, years in advance of their scheduled retirement date. Some are receiving more, much more. In today's world where hearing about broke pension funds is now common place and finding out that our government backed safety nets are vulnerable to collapse, it may be time to redouble our time investments into our Self Directed MLM Retirement Security Plan!
Rod Cook is one of the major researchers in the Direct Marketing arena. He has almost 40 years of experience in Network Marketing (MLM). He and his staff of reporters at the MLM WatchDog review and analyze almost 1000 companies a year. He has done this for 10 years of publishing and is one of the most knowledgeable persons in the world on the subject of MLM Companies, their sales psychology and pay plans. He consults with many companies and top MLM Distributors.