Quote:
Originally Posted by Rnrboy
Of course, the pension costs footodors cites are projected over a lengthy period of time. The original post made it sound like they were actually earning millions per year. The average pensioner in this states gets abut 25K a year. Certainly nothing to complain about, but they should probably have some supplemental income!
And (as usual) sandsonik nails it. Don;t blame the pensioners that the state got a raw deal because the kitty was underfunded by politicians. (Who supposedly represent Labor.)
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For anyone who's interested in this topic, Matt Taibbi discusses the Rhode Island pension situation in the latest Rolling Stone.
Looting the Pension Funds: How Wall Street Robs Public Workers | Politics News | Rolling Stone
I haven't finished it yet, but Taibbi's a favorite of mine so I look forward to it.
I just think it's so unfair that state and city workers get so much guff about their pensions when the fact is that cities underfunded them for years, and in some years didn't make even $1 of their contribution. I don't know how Raimondo thought she could get away with keeping the hedge fund fees secret! Not a good harbinger for the level of transparency one could expect if Raimondo becomes governor.
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