Les Jones

It’s not about Democrat/Republican. It’s about who finances the politician’s campaigns. Investment houses were buying Democrats in 1998, and they’re buying Republicans now.

I’m the one who told Bill Clinton how to fix Social Security…and he said it in summary form in his 1998 State of the Union Address.

I’ve been telling people how to do it since 1964, full time since 1995–and I am the only one in the world who knows how to fix it–and the only one who also knows how to fix medical care also.

You are welcome to call me anytime. I promise you will learn more about these systems than anywhere else, including why they have never been fixed.

I’m a retired health care and pension consulting actuary and one of the 5 reasons we have never fixed them is that actuaries are a crooked profession–some are trying to privatize Social Security so they can flimflam the public with lousy ‘investment products such as whole life insurance; others are trying to privatize Medicare while producing products that flimflam the public and still others are working hard with corporate pension plan sponsors to take assets from thse plans and screw pension participants out of portions of their benefits. The latter alone is a trillion dollar scandal.

andyclang@comcast.net

610-738-9678

Andy Lang

Like most of Congress and the two Presidential candidates, and most people elsewhere, they need major educating on how pensions work.

It is easy to find life insurance actuaries who wish to privatize Social Security and health insurance actuaries who want to privatize Medicare, and sadly pension consulting actuaries who have taken the money and run with it in the private pension sector, but only one who tells it like it is and is strongly opposed to privatization and knows which pension laws and accounting rules that were bad and how to fix them and also Social Security and health care.

(But it is too late for private pension systems to ever recover–nor for that matter any employee benefit that does not help corporations in an unforgiving highly competitive global environment where cheap labor is plentiful.)

He also knows that for most people it is impossible to have decent affordable pensions and health care unless you set aside money long in advance of it being needed and use the compound interest on those funds, mostly from common stock, to help pay the majority of the benefits.

He also knows that you cannot get those returns from individual accounts, but you can from a process that has been around for 250 years.

Actuarial Advance Funding–made its way into the pension industry in 1917 and ultimately morphed into an Actuarial Cost Method called The Entry Age Normal Cost Method. It was used by well over 90% of ther large defined benefit pension plans in 1980, right before the bad guys destroyed that industry, along with millions of employees right to a pension.

This method not only lowers cost dramatically by virtue of the investment returns, but also stabilzes the cost greatly and does eight other things all at once–each necessary for a pension system or for health care to work correctly.