From FB group Orange Talk
Karl Seppala
You are complaining about the wrong group. First off, the state employees are getting what they are allowed to get. The pension reform act did away with a lot of the cheaters. If you don’t like it, the legislature is the ones who can change the laws. And as far as “covered by the taxpayers”, the money paid in pension benefits is split up into the part that employee and employer, by agreement, pay into the system, and the rest of the benefits were paid by the earnings on investments. The Great Recession reduced that from 75% to 61%, and the difference is supposedly ” unfunded liability” that the taxpayer supposedly is going to pay. But as the economy recovers, the investments recover and the unfunded liabilities are funded by investments.
And you whine about this, but you put no blame on the damn financial institutions that got us into this mess. That’s the problem, not the victims, which are the pensioners and their pension funds. And that includes private as well as public pensions, including 401k, IRA, etc.
And then others complain about the public employees. They have to be hired from the same pool as private employees, and they have to get competitive salaries and benefits as the rest of the industry. If not, then the qualified employees will go elsewhere.
The public and private funds have been complaining by way of their shareholder votes to the boards of directors of many corporations. The issues are the exorbitant salaries the chief executive and others get, compared to the other employees. There is the real problem: get rid of overpaid executives in private industry and a there will be a lot less problems with the industries, and more equitable salaries for everyone.
Again I ask what you asked, “Where’s your brain?”
