Letter: Bush’s retirement plan carries risks

Monday, Dec. 20, 2004 | 9:18 a.m.

As a former employee of the Postal Service I was able to put money away in a Thrift Savings account. I had the ability to choose between investing in stocks and bonds, giving the potential to add greatly to my retirement income. I chose to keep putting money into the low-yield government funds. Many of my fellow postal employees took advantage of the great income potential of stocks and bonds.

At age 55 I was able to retire. With my modest retirement, my small investment in Thrift Savings, and a part-time job, my wife and I are able to live in Las Vegas.

All my fellow postal employees, after losing up to $10,000 in their Thrift Savings, came to realize they would be unable to retire at 55 years of age, and are still working graveyard shift for 10 hours every night.

If I had allowed myself to be fooled into the great promises made by all the brokerage houses, I know I would be still working graveyard six days a week, not here thinking about enjoying my retirement. As a person who has already seen what a plan like the president's can and has done to many working people, all I can say is write the people you elected, protect yourselves, and don't allow a Bush plan to keep you working long after you want to retire.

ALLAN TUCKER