Pension Trouble
How can pensions be guaranteed? My 401k is not guaranteed. It is a taxpayer black hole and a Wall Street dream. Wall Street looses pension money; governments send them more money to make the pension whole – again and again. It is time for full reform.
http://www.pensiontsunami.com/
State governments buried under pension debt. NY State has nearly 700 educators receiving annual pensions of more than $100,000. Story from Albany Times Union: http://www.timesunion.com/AspStories/story.asp?storyID=692650
California has over 5,000 people receiving pensions of more than $100,000, some making almost $500,000 a year (retired treasurer from city of Vernon, CA). Over 3,000 are educators. http://www.californiapensionreform.com/calpers/
Unions are payed off with sweetheart deals for pensions – government agencies thinking they paying for the pension will be someone else’s problem. Many pensions end up paying out more each year than the employees earned at any year in their working career – this is due to the employee padding their final years wages with additional income.
http://www.pensiontsunami.com/
State governments buried under pension debt. NY State has nearly 700 educators receiving annual pensions of more than $100,000. Story from Albany Times Union: http://www.timesunion.com/AspStories/story.asp?storyID=692650
California has over 5,000 people receiving pensions of more than $100,000, some making almost $500,000 a year (retired treasurer from city of Vernon, CA). Over 3,000 are educators. http://www.californiapensionreform.com/calpers/
Unions are payed off with sweetheart deals for pensions – government agencies thinking they paying for the pension will be someone else’s problem. Many pensions end up paying out more each year than the employees earned at any year in their working career – this is due to the employee padding their final years wages with additional income.
Labels: pension
posted by Tolli at 3:07 PM
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