Don't be surprised if Metro goes bankrupt within the next several years (low income, apartment)

[fcyolo]

Originally Posted by newvadad

but, if WMATA goes away, who will be around to manage all the benefits of the employees, staff on disability and retirees?

Remove those benefits, buyout pensions and implement a 401k like the rest of the country.

Here is the budget waste
WMATA Budget Policies, We Need Change | The Tysons Corner

[TheWatchmen]

Originally Posted by fcyolo

Remove those benefits, buyout pensions and implement a 401k like the rest of the country.

Here is the budget waste
WMATA Budget Policies, We Need Change | The Tysons Corner

Yeah, and stop paying for healthcare, too. Race to the bottom, everyone! It is the only way!

[fcyolo]

Originally Posted by TheWatchmen

Yeah, and stop paying for healthcare, too. Race to the bottom, everyone! It is the only way!

Healthcare is mandated by law for large companies. Until metro can get it's act together they need to implement the bare minimums and focus resources and money on the trouble areas. It is obvious they are failing now with their gold platted benefits so obviously those over the top benefits are not doing anything to help.

[newvadad]

Originally Posted by TheWatchmen

Yeah, and stop paying for healthcare, too. Race to the bottom, everyone! It is the only way!

Yea, because we know that paying people not to work and overpaying for healthcare that most people will never use because it's too expensive, has worked well so far so we need more of it. throwing more money into a failed system run by unaccountable political appointees is the only solution to the problem.

[TheWatchmen]

Originally Posted by newvadad

Yea, because we know that paying people not to work and overpaying for healthcare that most people will never use because it's too expensive, has worked well so far so we need more of it. throwing more money into a failed system run by unaccountable political appointees is the only solution to the problem.

Does YOUR employer provide a bottom-of-the-barrel budget healthcare plan for you?

People are more likely to use good healthcare plans, because their deductibles and co-pays will be low.

[newvadad]

Originally Posted by TheWatchmen

Does YOUR employer provide a bottom-of-the-barrel budget healthcare plan for you?

People are more likely to use good healthcare plans, because their deductibles and co-pays will be low.

The flaw in this line of thinking is obvious. WMATA and employers in general are not in business to give you anything other than a market based wage for hours worked. healthcare, retirement and leave pay all became fringe benefits to attract employees during a period when most industries were starving for labor. Now those very benefits are becoming a noose and the answer is not to make the noose tighter.

[slaminjamin87]

Big Burden On Region's Taxpayers Forecasted In Metro Budget Proposal | WAMU 88.5 - American University Radio

This should concern anyone who uses Metro on a daily basis.

[gomason]

Metro actually relies less on tax money than just about any other subway in America (~50% of revenue comes from fares which is considered very high). That's why our fares are so much higher than places like Boston, New York, and Philly.

[DistrictSonic]

Originally Posted by fcyolo

Remove those benefits, buyout pensions and implement a 401k like the rest of the country.

Here is the budget waste
WMATA Budget Policies, We Need Change | The Tysons Corner

This. Even DC government does defined contribution, it is a big reason why DC has largely been in the black while many other cities are going bankrupt. Defined benefit pensions do not not work, a 401a/401k is the road to go.

I am not shocked that part of this is coming from a pension issue.

I think another major problem is organizational structure, basically to much bloat on the middle management level, and poorly managed to start with. I am hoping the consultants looking at the agency problems leads to cutting the fat.

[TheseGoTo11]

Originally Posted by TheWatchmen

It seems like you have something against unions, pensions, and a myriad of other things.

I thought WMATA was supposed to serve the public, not unions.

Taxpayers and riders shouldn't have to spend so much on the outdated pension plan. Agree with previous comments that they need to covert to 401(k)'s.