Trying to keep up with the defined benefit plans for highly paid public employees is going to bankrupt cities, counties and states. It already has. Then you add their health care on top..
They need to shift to a defined contribution plan immediately. Let the unions strike. The citizen’s need to demand action.
Given public sector employees want to be paid the same level of compensation as private sector employees (without the risk of market competition which previously allowed them to be paid less given job security and guaranteed pensions at the cost to taxpayers)I say let them join the rest of us “at risk” employees so they better understand who creates the wealth they tax and live comfortably off in the first place. To he$$ with public employee largesse; the free ride is over. Taxpayers unite and fight!
Now the idiots want to end 401K plans. There is no segment of our society that they don’t want to destroy.
They are making the former soviet union seem a desirable alternative to Obamaland.
It’s sickening, terrifying, and seemingly unstoppable.....at this time.
And meanwhile, we self employed persons continue to count or pennies, continue to work, continue to pay taxes to fund retirements and wages for others that we can’t attain or afford.
How stupid is this?
Try to get even one in ten of teachers, cops, firemen, “public servants” or any other person with a pension to understand the present value of their benefit provided on the back of the taxpayer. Try to get even one of them to admit or even begin to understand that there is no way that their pension contributions could ever pay for their benefits ...they feel they are entitled and are too stupid to know the difference. Yes, stupid.