DO PUBLIC EMPLOYEES DESERVE MORE IN RETIREMENT THAN ORDINARY FOLKS EARN WHILE WORKING?

Public pension plans $4.4 trillion in hold
http://watchdog.org/67140/watchdog-analysis-public-pension-plans-in-critical-condition/
Wisconsin Reporter - Kirsten Adshead - 1/23/2013


State and local public legacy costs have become so bloated that every U.S. household would have to contribute nearly $1,400 per year for the next three decades to fully fund the debt-ridden public pension systems.

Lawmakers aren’t blind to the problem.  But, thus far, most have been unable or unwilling to have a serious debate over whether and how to continue public pension programs, many of which are in critical financial condition.

“From the top down, the public is hearing about these pension liabilities and they’re seeing how the services they’re receiving from state-level governments are being increasingly squeezed by the fact that the tax resources have to go more into pensions and less into other things,”


“They have a real effect on people because we’re spending less on teachers and police and firefighters and more on retired teachers, police and firefighters,” he said.

BLOGGER COMMENT:  It's time to give public pension recipients a buyout-purchase an annuity in their name and get that liability off the books of the taxpayers.  That will solve millions of problems for those state and federal employees who make more in retirement for decades than the ordinary citizen who is just scrapping by.

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