(Shortage of) $1.4 Trillion in Pension Fights Foreshadowed in RI

ABC News ^ | 10/07/12 | DAVID KLEPPER

[Libloather]

$1.4 Trillion in Pension Fights Foreshadowed in RI
By DAVID KLEPPER Associated Press
PROVIDENCE, R.I. October 7, 2012 (AP)

Retired social worker Jim Gillis was told his $36,000 Rhode Island state pension would increase by $1,100 next year to keep up with inflation. But lawmakers suspended annual increases, leaving Gillis wondering how he'll pay medical bills and whether he'd been betrayed by his former employer.

**SNIP**

Nowhere have the changes been as sweeping as in Rhode Island, where public sector unions are suing to block an overhaul passed last year. The law raised retirement ages, suspended pension increases for years and created a new benefit plan that combines traditional pensions with something like a 401(k) account.

[Libloather]

"What they did was illegal," said Bob Walsh, executive director of the National Education Association Rhode Island. "We're deep into a real assault on labor. It worries me that people who purport themselves as Democrats do this."

Is it really labor once they've stopped laboring?

[texican01]

Amazing! The state employees/retirees are even more stupid the the politicians who lied to them!!

Countries go down the toilet when EVERYONE is stupid!!

[Gaffer]

Maybe he should go see a social worker....ironic, huh....

[patriotsblood]

Poorly written headline folks, the $1.2 trillion is a projection for all 57 states.

[Jimmy Valentine's brother]

All told, states need $1.4 trillion to fulfill their pension obligations. It's a yawning chasm that threatens to wreck government budgets and prompt tax hikes or deep cuts to education and other programs.

WND has written that legislation to confiscate IRA's, 401k's, Keogh's, SEP's is being written at Federal and State levels. Precedence set by FDR when he confiscated gold coins during the depression.

[PGR88]

leaving Gillis wondering how he'll pay medical bills and whether he'd been betrayed by his former employer

Betrayed by the Government? Imagine that!

[glorgau]

North Providence retiree Jamie Reilly left her job as a secretary at age 50, thinking her 30 years of state employment would mean good benefits during her later years. But now she said she may be forced to re-enter the workforce at age 55 because the state has put off pension increases.

Retired at 50 and planning to live to 100.

[LongWayHome]

Good benefits by using my house as an ATM machine with endless property tax increases.

[JPG]

We don’t have the money! (repeat as often as necessary)

[hal ogen]

Retired at 50. Where the heck does she think she lives...Greece? Poor baby. My heart goes out for her. NOT!

[yldstrk]

these “public unions” are simply people feeding at the public trough.

No pension “guarantees” protection from a tricky environment. This loony bird enjoyed huge and fat benefits at taxpayer expense during his ‘career” and now the taxpayer gets to pay for his “retirement”. He has not been “betrayed” by the taxpayer, he has been the betrayer.

[yefragetuwrabrumuy]

A quick way for state government to slash expenses is to do what the military has long done: set up boards to examine disability claims, which right now are terribly abused, claimed by millions of people who do not deserve them.

First of all, the board takes the claims and divides them into three parts.

The first part is the easiest, the “irrevocable disabilities”. For example, if a person is missing a leg, it is not going to heal, so if their disability was legitimately approved they get “permanent” disabled status.

The second group are “limited disabilities”, in which over time, there will be some, if not complete, recovery. This recognizes that there are few medical conditions that will ever result in “made whole” or 100% recovery, but full disability should only go to those who are fully disabled, not for those who are partially disabled. These may still need *some* disability, but it can be assigned by “what percent disabled” they are.

The third group are “subjective disabilities”, which is where most of the abuse occurs. Claims such as back pain but without objective injury, some kinds of mental illness, and many others.

For this group, requiring medical follow-ups with different doctors, and semi-annual or annual evaluations, kills off most of the fakes.

[E. Pluribus Unum]

Just because union thugs write themselves blank checks on the taxpayers’ dime doesn’t mean those dimes are going to be there when the taxpayer is unemployed.

[cherry]

going on age 59 this month, still working hard saving and serving the human race.....no defined pensions for me....

these poor liddle govt employees....

[MSF BU]

I’d dispute your claim. The military may be good at weeding out fakes; the VA isn’t. Google up stories on “sexual trauma”; the newest way to a 30% disability rating...one can work up to 100% via “depression” once the 30% is established.

[MSF BU]

I’d dispute your claim. The military may be good at weeding out fakes; the VA isn’t. Google up stories on “sexual trauma”; the newest way to a 30% disability rating...one can work up to 100% via “depression” once the 30% is established.

[yefragetuwrabrumuy]

I quite agree about the VA, which is why I limited it to the military.

[Alas Babylon!]

And yours is a poorly wrtten post as there are only 50 states!

Oh, wait....Obama said that. You know that’s obscure, unlike FAMOUS gaffes made by Republican.

You almost fooled me...