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From what I've gathered, city workers do not have the luxurious higher than yearly salary pensions that upper management, city managers and other top tier government positions make as tax-payer subsidized pension co-pay payments. Not surprisingly, the ironic bait & switch distraction narrative continues to distract people away from the insane pensions that government elitists make when they retire. Meanwhile, ordinary government workers with their meager self-funded pensions are vilified as if their marginalized pensions are the same as elitist full salary pensions that they themselves do not pay a single dine into. This very bait & switch pension fiasco continues to ruin the credit rating of the town I live in because unfunded pension benefits have yet to be funded or rescinded by the same regressive oligarchy that continues to soil the city's image by refusing to make necessary sacrifice by those enjoying these illegal benefits. In fact, the main instigator of the city pension fiasco is now retired living in another state making over 120 grand per year using a dubious funded pension program that he set up himself to benefit from after he rigged the system a few years before he retired himself. That's no mere coincidence as the current city bureaucracy continues to maintain the regressive status quo and refuses to tax or require any self-payment sacrifice by upper government pension scheme recipients. Meanwhile, much lower pension recipients who have no problem paying for their own pensions out of their own pay, have been falsely equated with the fat cats at the top of the pension food chain. Granted, I understand why the fat cats wish to divert and distract people from being angry at their excessive pensions which they force tax-payers to pay for in full, yet the pension barons have the shameless audacity to scape-goat honest hard working people who pay for their own pension guarantees as if a pittance of a pension is excessive and is undeserved. When framed like this, ignorant people tend to get angry at the idea of "freeloaders" benefiting from tax-dollar funded pensions. The problem with this false dichotomy is that people are being convinced to be mad at the working class, vice the real pension barons who assume that their political power gives them carte blanche to receive tax-payer funded full salary level pensions for themselves all the while they false frame the working class as undeserving of their self-funded pensions which those same government elitists seem to enjoy scape-goating while they loot public-sector pension funds to pay for pet projects. With stealing pension funds from city/public workers the regressive budget gap filler norm, it's not surprising that by demonizing public workers or their self-funded pensions, the real agenda is to get away with stealing pension funds. Subsequently the GOP makes the false argument that pensions should vanish not because regressive elitists have stolen money to fund partisan projects, but because they want to cover-up their illegal theft by convincing gullible people that public workers should have their pensions removed without cause after they've already paid into their own pensions. This is the same narrative used by HMO's to drop someone after they've already paid years upon years of premiums as soon as they need to make a claim.
The Private sector lost Defined Pensions because they were unsustainable. It's simply a financial fact. There are Liberals on this site who actually believe that the 3% (NY) they contributed in their first 10 years on the job paid for their pension when it did not even come close. The taxpayers paid for it and it costs us a fortune (those who actually pay the taxes). Basically, they are perfectly fine when I have to pony up thousands of dollars to pay for their pension and then do the same for mine. That means I am greedy because at the end of the year they are better off? They have to save nothing and I have to save 20% to even think about retirement. We are getting steamrolled here in NY, and they cannot see why?
Both sides, dems and republicans, are corporate sponsored. Most powerful corporations contribute to BOTH sides evenly during campaign years. No, pensions definitely aren't bad, but the ones on target are the ones like private sector workers in new-jersey that get hundreds of thousands when they hang it up. Is that fair or meager for a city manager?
I could tell you something about humans on Yahoo! Answers. They have a really strange hobby of reporting questions for no reason. Yes, I find that really disturbing. While I type this, I'm afraid I'll see the "You received a violation" alert 2 seconds later. smh
Are pensions a bad thing? No they are not, just as asking them to contribute a small percent of their paycheck to those pensions is not a bad thing. Seems a lot of the outrage of the unions supported liberal side is a little misdirected.
Of course not. But usually, the corporation and the employees are the ones contributing to their pension. I always did and you didn't contribute anything to my pension unless you voluntarily bought the product or service we sold. What you're suggesting is that I contribute to your public pension and you contribute nothing. That's the problem I have. I have no choice but to buy your product and contribute to your pension. And you give me, the customer, no choice in the matter, either to pay or not to pay into your pension or how much. That's the underlying issue with public versus private unions. Businesses can go out of business if the unions demand too much. Government's can't.
The rich and corporations have depressed wages/benefits to such a degree in the private sector, that the rich are able to now pit poorly-paid private sector workers against poorly-paid public sector employees. This is a race to the bottom for anyone who has to work for a living...it's great, if you are rich, but the vast majority of us are not...
Pensions are bad things since they usually depend upon the company doing well to help subsidize the pension funds. However, if the company doesn't do well, the pensions are not funded. In the public sector this is extremely bad to do since if the economy slows down, so does the tax base and thus the pension funds.
Pensions are a good thing, I just think the government shouldn't play favoritism with companies since we see what happens when the government has a headlock on capitalism, it ruins things for the working class. We wouldn't have this problem if government ran correctly, perhaps by following the Constitution.
I bet Gov. Walker and the Wisconsin congress think their pensions are just great.
Guaranteed pensions are risky for the employer. when the economy drops and your income is way down, the guaranteed pensions don't get smaller...so you still have big costs for pensions even though your company is laying people off to keep from closing. these days only the government can pull it off, because only the government can run billion in the red. @GEE WALLY oh yea...I guess we should make money fly out of our butts to pay retired people fat pensions even while our private companies struggle to pay the WORKING employees during this recession.