What really needs to be done with federal, state, city, local, etc, etc, pension plans (probably will never happen) is to have all new employees put on a DEFINED CONTRIBUTION (self directed ira/401k plan) plan, as opposed to a DEFINED BENEFIT plan. Curent employees under a DEFINED BENEFIT plan should be required to make contributions that will result in full funding of the pension system. Also, do away with the retiree health benefits, cannot justify this huge bennie any more.
What really needs to be done with federal, state, city, local, etc, etc, pension plans (probably will never happen) is to have all new employees put on a DEFINED CONTRIBUTION (self directed ira/401k plan) plan, as opposed to a DEFINED BENEFIT plan. Curent employees under a DEFINED BENEFIT plan should be required to make contributions that will result in full funding of the pension system. Also, do away with the retiree health benefits, cannot justify this huge bennie any more.
tickyul 1 year ago
Pension Watch website is a great place to read about the pension fund insanity. (pensiontsunami d ot com)
tyronebiggums3 2 years ago