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i agree with some of this but not that the taxpayers should be forced to live up to these obligations no matter what. i think its unfortunate for people to be promised things and not get them but i dont think that means it shouldnt happen that way. in the private sector, people are promised things and if the company goes bankrupt or closes, things change. same should be for public sector. the only reason why people can even consider what you are saying is that the public workers feel they have some god given right to abuse taxpayers because we dont have as much choice as a customer buying a product. if GM's pension costs get too high, they cant just charge customers more money and force people to buy their cars, customers have choice. taxpayers get abused.
my 401k contributions are guaranteed whether company goes bankrupt or not. so is my private sectar pension, up to a certain amount. no reason public employees should be treated any differently.
i know a lot of people with 401k's and sometimes no match. is that really a pension? if the employer matched 50% of employee contributions up to 3% of their salary, can that be compared to what most public workers get?
saying "they have a pension" is just not enough detail.
my former employer contributed 4% of my salary each year to a pension. additionally, i got a 25% matching contribution to my 401k contributions, up to 6% of my salary. no one is saying a 401k is a pension that i know of. these small pensions are not uncommon in public accounting and banking from what i've seen amongst my friends.
my new employer is no pension, but i get 100% matching contributions in 401k up to 6% of my salary.
Is the state responsible for living to the letter of the contract even if it means doing so will virtually drive the state to bankruptcy or force the pension into bankruptcy and federal control where the employees will get far less than they would under the state plan?
So, do we break the state to meet our promises even if it means that taxes will spiral out of control...
or
Do we let the pension system sit as it is until it becomes insolvent and is taken over by the Fed and all those in it will be lucky to get 50% of what they were owed under the old plan.
well, since the state (read: taxpayers) allowed years to go by without paying into the fund, just because the bill is due now doesn't mean the state (taxpayers) are off the hook for their obligation they agreed to.
fix the system now and figure out the best way to meet obligations, or as close to it as possible.
well, since the state (read: taxpayers) allowed years to go by without paying into the fund, just because the bill is due now doesn't mean the state (taxpayers) are off the hook for their obligation they agreed to.
fix the system now and figure out the best way to meet obligations, or as close to it as possible.
those who benefitted from the tax cuts Christie #1 enacted which caused this mess should pay it all back.
my 401k contributions are guaranteed whether company goes bankrupt or not. so is my private sectar pension, up to a certain amount. no reason public employees should be treated any differently.
getting back what was specifically taken from pay is a no brainer.
and id vote against living up to past promises. one of the benefits of a 401k program i suppose, the money is there in an account for you to see, not a pension fund for you to dream about.
those who benefitted from the tax cuts Christie #1 enacted which caused this mess should pay it all back.
That would unfortunately be every last person in the state...with the exception of those making over $500k who had their pre-Whitman tax levels restored under McGreevey in 2004.
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