Weekend Wind Down 9/29/2012 – Angry with SB1040!



link love, CarnivalsMMD is very mad right now. There are two things you don’t mess with when it comes to MMD: 1) My family, 2) My money.

Right now, the state of Michigan is messing with both! According to a new law that was passed in our state called Senate Bill 1040 or SB1040, all public school employees are going to have their pension plans altered (aka reduced). The best part is that they let you decide how – by choosing from one of four somewhat convoluted choices. Isn’t that nice – would you like to cut off your thumb, ear, or toe?

So being fresh on my mind, I’ve got a ton to say about the topic next week over a five-part post series.

Now even though you probably don’t live in Michigan, I want you to treat this situation as if it happened to you, your spouse, family member, friend, etc. Remember that change can happen to anyone of us. And as financial bloggers, we have an obligation to really challenge ourselves to make the best of the mess!

So please read along with me next week as I try to figure out which option will be the best for my family!

 

Link Love – Blogs You Should Check Out:

In case you missed them, here are a few great stories you should check out this weekend:

 

Carnivals:

MyMoneyDesign was featured in the following personal finance carnivals this week:

Thanks again to all my new and returning visitors. I really appreciate your support and hope you continue to enjoy my site!

 

Posts This Week:

1) My Cash Flow Plan – September 2012 Update

2) Economic Turnaround Slowly Creeps Back Around the World

3) Check Out My Guest Post “Should We Try to Leave Something Behind?” at Club Thrifty

4) Book Review: The Smartest Retirement Book You’ll Ever Read by Daniel R. Solin

5) Truly Leaving Something Behind By Preparing Your Safety Net

Image Credit: Unknown



 

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9 comments

  1. That sucks but seems to be the way most states are going these days :(

    I’ll be reading the series… time to wait for the first part!
    Lance @ Money Life and More recently posted..Random Thoughts, Round Up and Carnivals #23My Profile

  2. Shilpan says:

    Sorry to hear that your wife’s benefits will be reduced, MMD! This proves that we are still struggling with our economy in general.
    Shilpan recently posted..Best Stocks to Buy: My Rock Star Stock Portfolio UpdateMy Profile

  3. That’s seriously messed up. Public school employees are generally already grossly underpaid for their work….don’t mess with their pensions. Does your union have anything to say about this?
    femmefrugality recently posted..Family History for All Price RangesMy Profile

    • MMD says:

      Amen to that! Unfortunately, her Union was not able to fight this one since it was for all the State and not just her district. They usually do a good job of negotiating their contracts, but this one is kind of like trying to stop a stampede from coming at you.

  4. AverageJoe says:

    I can’t wait! Pension math is always something I enjoy. Thanks for mentioning my little post.
    AverageJoe recently posted..5 Methods I’m Contemplating to Avoid American Airlines this FallMy Profile

  5. The VIP Club - Weekly Roundup 6th Edition - Club Thrifty says:

    [...] My Money Design gives us a shameless plug for his guest article;) [...]

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