July 10, 2009  Retired Detroit police officer Ed Kaler, 69, has worked full-time at Vanderbilt since 1995. The material handler with Special Events figured 2009 would be his time to retire from VMC. “Until last year I had made good returns on my mutual fund investments. My only trouble had been a setback after 9/11,” Kaler said. At the start of last year, his taxable retirement savings were in various mutual funds and his tax-deferred 403(b) savings through Vanderbilt were in lower-risk investments. By last October, Kaler's mutual fund investments were down 40 percent for the year and the more diversified investments in his 403(b) had lost 20 percent. At that point, Kaler moved all his retirement savings into bonds. “As it stands now, my retirement won't be soon,” he said. |
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