Finance Friday: Scary Retiree Lessons from Stockton, CA

Posted on June 29, 2012 by

In June 2012, the city of Stockton, CA filed for bankruptcy. One result is that current retirees will see their pension plan payments reduced. Cutting current retiree benefits used to be unthinkable! But in today’s economy, government employers—just like private corporations—are struggling to pay the bills, including retiree pension payments. This uncertainty is a new risk faced by anyone who currently participates in a pension plan (or will in the future). But there is a straightforward way to deal with this risk. Watch to see how!

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About Mike Wilson

Michael L. Wilson, MBA, CFP®, CRC®, is the owner of Integrity Financial Planning. Prior to founding Integrity in 1998, he worked for two years as a faculty member at the College for Financial Planning in Denver, training other financial advisors. Mike has 10 years of experience in the mutual fund industry, having worked with Fidelity Investments and Invesco Mutual Funds. He holds an MBA in Finance from Baylor University. Learn more about his work at www.integrityplanner.com.
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