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Mille Lacs Pension Fund
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As a new and long overdue step, the Mille Lacs Band of Ojibwe have taken steps to set up a pension fund for tribal members. I've not heard of any other tribe doing this yet. Evidently the tribe has been using revenue from the casinos in Hinckley and Mille Lacs to cut back on the percentage of tribal members living at poverty level (they've improved from 80% to 15% ). Now they are exploring more long term ways to set aside money and invest it for tribal members to make sure they are not struggling to survive when the reach retirement.

With Social Security in doubt for future payouts and so many Native Americans working low paying or seasonal jobs, I think this could be part of the answer to keep elders from a bleak outlook in their later years. It's about time someone has taken the best of what "mainstream white" society has to offer and use it to help their own people as well! It makes much more sense to set this money aside and take advantage of compounding instead of just paying it out in cash right away and hoping tribal members have access and knowledge of investment vehicles.

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