Minnesota police, fire pension fund lifeline gets a closer look

pioneer press ^ | 3-4-13 | MaryJo Webster

[TurboZamboni]

Opponents of an insurance surcharge to fund police and fire pensions told state lawmakers Tuesday, March 5, that the proposal is particularly unfair to low-income Minnesotans and follows huge increases in homeowners insurance.

The bill, authored by Rep. Joe Atkins, DFL-Inver Grove Heights, calls for a $5 surcharge on each homeowners and auto insurance policy as a way to provide additional revenue to pension funds for police officers and full-time and volunteer firefighters.

Lawmakers on the Legislative Commission on Pensions and Retirement heard arguments for and against the bill during a hearing at the Capitol but delayed a vote until next week.

Supporters said the proposal is intended to improve the funds' financial health and make up for recent shortfalls in tax revenue that have long been used to help pay pension costs for public safety workers.

[TurboZamboni]

St. Paul teachers pension fund to ask state for more help http://www.twincities.com/ci_22715201/st-paul-teachers-pension-fund-wants-state-district

bailout fest ...coming our way.

[muir_redwoods]

Attention state employees: fund your own damned pension, I did.

[blueunicorn6]

Maybe Al Franken will donate half his pay.

[TurboZamboni]

All us private sector folks can sell our foreclosure homes and move into an apartment so the public sector can get a raise,retire at 55 with 80% of their highest salary, and move into our old homes.

They’ll have their new Gubmint Motors cars and everyone not working for the gubmint will be riding public transit.

[GeronL]

They should fund their own pensions.
I hear in some cases they contribute almost nothing to their own pensions and benefits, crazy

[Huskrrrr]

That’s the latest news from Lake Dough-be-gone (formerly Lake Wobegon).

[JohnBovenmyer]

1. Government pensions are underfunded. Mainly because, instead of funding pensions, their unions lobbied governments to fund raises and other current benefits.

2. Government workers, and other libs, all favor higher taxes for the rich.

3. Libs believe they can tax anything as much as they want.

So make them happy. Slap a windfall government pension tax on those rich (paid 30-100% more than private sector) elites. Use it to 'fund' the missing balance in their pension funds.

[From The Deer Stand]

Tax the unions to fund their pensions. Ha!