Retirement Benefits Back and Forth

I do not support a federal program that will mandate business owners to pay for and administer an automatic workplace pension ["5 Ways President Obama Plans to Change Your Retirement," usnews.com].

+ More

I do not support a federal program that will mandate business owners to pay for and administer an automatic workplace pension ["5 Ways President Obama Plans to Change Your Retirement," usnews.com]. I am a small business owner in rural southeastern Georgia that employs 100, and only 20 participate in a 401(k) plan we have provided for the past 15 years. It has gotten to be cost prohibitive for our company to offer this benefit and we have had to discontinue it during these difficult economic times. I hope the new president will not mandate small business owners to provide workplace pensions that come with costs to the business to administer. Will the government pay for all the costs to provide such a benefit?

Comment by S. Johnson of GA

All five of the proposals sound good to me—especially "allowing the federal government to negotiate lower drug prices for Medicare recipients." We dropped our AARP membership when they did not support federal negotiations. Everyone said that it was to support a "free market," but how free is the market for the elderly who try to negotiate that labyrinth mess? Having our elected representatives represent the citizens is not socialism; but what we have now is a dictatorship by a corporate oligarchy.

Comment by Terry J. DuBose of AR

I worked hard all my life to make a decent retirement only to face a proposal to take part of that hard earned retirement and give it to someone who decided to sit back and do little (did not save, no 401[k], etc.). I've paid in excess to Social Security as well as all other forms of taxes only to see it given away in welfare and unemployment programs. Let people benefit from what they have earned. This may sound harsh, but the more we turn ourselves into a socialistic society the further downhill our country goes and the less incentive people have to work for what they want. You should get what you earn!

Comment by Cedric Tucker of TX

Of all the [5 ways] above, having the government negotiate lower drug prices for those on Medicare hits home for me the most. Most of us look at spending over $3,000 at the beginning of the year just on medications because of the way Plan D is set up. I realize that the lower prices will keep us in the donut hole longer, but at least we have the satisfaction of knowing that we are paying a fair price for the medications and not being gouged. There are a lot of senior citizens that only take their medications "once in a while" instead of the way they are prescribed.

Comment by Gene Salem of OH

I can only pray that these changes occur. There are so many of our elders that live at the poverty level. Our medical technologies have extended our life spans for what? Retirees lose their homes, heating, and water because they don't have the income. Then they must pay for all the medical costs that go with aging. Sometimes I believe people are having children only with the hopes they will take care of them when they get older. So who helps the elders if they have no one? Finally, President Obama is trying to resume the title of Father of Our Country and not just Commander in Chief.

Comment by Chris John of WI