[King Moonracer]

Already-vested benefits cannot be touched

Unreasonably vested should be touched. Why should someone who paid 6-7% of a salary get that final year salary for 20+ years. THEY NEVER COULD HAVE SAVED THAT MUCH! The guaranteed returns are ridiculous. The paid funds should be pro-rated versus what was paid in versus SSI. SSI should be the only government pension!!!

[muawiyah]

BTW, not everybody who accrues vesting gets delivery of the pension. That's because people die. The actuarial analysis behind any pension plan assumes the same.

The individual plans assume that even if you die your relatives get some. That's not true with these group pension plans.

[jimfree]

Unreasonably vested should be touched. Why should someone who paid 6-7% of a salary get that final year salary for 20+ years. THEY NEVER COULD HAVE SAVED THAT MUCH! The guaranteed returns are ridiculous. The paid funds should be pro-rated versus what was paid in versus SSI. SSI should be the only government pension!!!

Ask pilots of bankrupt airlines that defaulted on pension funds. Retired and retiring public employees should indeed be vulnerable to pension adjustments when the jurisdiction was bankrupted by wastefulness masquerading as merit and generosity. Give them the same ratio that the PBGC gave the pilots.