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He runs around the country bragging about his pension legislation a portion of which requires a set payment this year. He wants to reduce it by $1 billion. He does not want to make the required payment.
He runs around the country bragging about his pension legislation a portion of which requires a set payment this year. He wants to reduce it by $1 billion. He does not want to make the required payment.
The pension payment is being reduced because the State can't afford it.
I have a good friend that worked for the city (NYC) for 20 years and retired. His father blasted him saying what gives you the right to work for 20 years and collect a pension for 40 years.
The system is broken, needs to be fixed before we end up like Detroit.
The pension payment is being reduced because the State can't afford it.
I have a good friend that worked for the city (NYC) for 20 years and retired. His father blasted him saying what gives you the right to work for 20 years and collect a pension for 40 years.
The system is broken, needs to be fixed before we end up like Detroit.
The state doesn't want to afford it.
The public employees (especially teachers) have done their part. They increased their contributions to the plan, and now pay a percentage of health care and prescription costs. Many public employees have agreed to pay increases below the rate of inflation, and, in some cases, freezes or even cuts.
And yet we're still getting the same old story.
In a state where, even after the alleged "economic downturn" of the past several years, we have gobs of people debating over which exclusive enclave is the most exclusive to drop 3 mil for a house in (including many on this board) I'm tired of hearing "We can't afford it."
Those people will be perfectly OK if taxes go up a bit and they have to settle for the 2.9 million dollar house.
The pension would be in fine shape if the State made their contribution as required. You can not skip the majority of a required payment for 23 plus years and then say we can not afford the plan.
You should also stop trying to sell the 20 year and retire for 40 nonsense. That pension plan is in okay shape. The plans not in good shape are the plans funded partially by the State. It is all because the State did not fund the plans with the 4% of each employees salary for State workers and teachers. Those plans required 25 years and at least 55 but the average retiree did 35 plus years and was 62.
I agree with what he said. It would give me great pleasure to see public workers stipped of their pensions.
You seem perpetually grumpy.
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