If you ask employees to gamble, call spade a spade

Editor,

I have noticed lately that the Human Resources Department at UNM, like many HR departments at great universities, is pushing employees to buy into 403(b) and 457(b) plans.

There is no guarantee that people who buy into these mutual funds will make money. Indeed, many of the people who sell such things are quick to point out that, as per the standard investment brochure disclaimer, “investing involves risk: the value of your investment will fluctuate over time and you may gain or lose money.”

That’s right, you might lose money. A lot of money.
But the purpose of this letter is not to argue whether the University is wise to be acting as an agent for investment companies.

The purpose of this letter is merely to say that if the University is going to be “pushing” investments on its employees, then it might as well facilitate the purchase of lottery tickets for us, as well.

That’s right: I’d like to see HR deduct $5 or so from my paycheck every two weeks and buy me a lottery ticket. Not only would that give me an opportunity to become a multi-millionaire, but it would also help pay for the Lottery Scholarship, which would directly benefit the students.

I really don’t see how buying into a 403(b) or a 457(b) plan is going to help the students, but buying a lottery ticket would help fund a multitude of scholarships, grants and loans.

I also can’t see how buying into a 403(b) or a 457(b) plan is any different than gambling. I guess it may be a little more refined than playing craps or the slots, but it’s gambling, plain and simple. Let’s quit beating around the bush and call it what it is, please.

I would like to challenge the Human Resources Department at UNM to think outside the box and help facilitate a way for staff and faculty to invest in something that we all understand and that will directly benefit the University. Set up a method for us to play the lottery by deducting a set amount from our paychecks every pay period.

That way we all come out winners.

Chuck Reuben
UNM staff