Re: One problem with a LOT of pensions. - Saab General Bulletin Board - Saabnet.com
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Re: One problem with a LOT of pensions.
Posted by KevinM (more from KevinM) on Sat, 5 Jun 2010 14:13:43
In Reply to: One problem with a LOT of pensions., NHWayne, Sat, 5 Jun 2010 07:52:35
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Those are some of the designed-in problems of defined benefit pension plans. In the public sector, it seems to me, elected officials tend not to see their work as a job, but as an advocate for certain interests and commited to doling out benefits. Public employee unions preactically own the legislature in my state (CT). In the private sector, it has been hard for the suits to bury their heads in the corporate trough and then become skinflints with employee perks. But eventually, the fiddler has to be paid, so get ready.
My bright idea: Employees qualify for a pension benefit at, say, 55, but they can't actually draw from the pension until 65.
It's a tough problem. I'm not saying people who've worked hard for decades haven't earned their pension, but at some point the thing becomes unsustainable. In my town some of the highest paid people are youngish retired police officers whose pensions are based on their last three years of service, during which they pile on overtime which is counted toward pension calculation. Obviously this opens the door to gaming the system. The fault is with the people who made the dumb rules.
posted by 72.195.141...
Posts in this Thread:
- this month's Car and Driver, john in CT, Thu, 3 Jun 2010 17:18:20
- Unions and pensions...., Mike Lynch , Fri, 4 Jun 2010 10:48:54
- Re: this month's Car and Driver, REM in Seattle , Fri, 4 Jun 2010 10:31:59
- Re: this month's Car and Driver, EGD , Fri, 4 Jun 2010 04:00:08
- Another example of inept GM management., Noel, Fri, 4 Jun 2010 05:25:22
- Re: Another example of inept GM management., EGD , Fri, 4 Jun 2010 19:06:04
- Accounting, Accounting, Accounting, Bruce, Fri, 4 Jun 2010 12:09:23
- Re: Another example of inept GM management., JimBlake , Fri, 4 Jun 2010 05:53:31
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