Submitted by dotcom-jillionaire t3_yy4461 in Pennsylvania
Extreme_Qwerty t1_iwsb0te wrote
Eh. I'm not expecting much from the Democratic Caucus in the Legislature.
LOTS of them voted for the so-called pension reform bill (Act 5 of 2017) which sticks younger state workers in a hybrid pension/401k retirement program, but does nothing to address the state's massive public pension liability.
Democrats who screw over young people -- which seems to be how America operates these days -- are garbage.
https://www.pennlive.com/news/2017/06/pension_bill_represents_in_som.html
UncomfortablyNumb43 t1_iwsdykl wrote
Yep…I am a State worker under the old pension plan(retiring in August). I was completely against it.
Extreme_Qwerty t1_iwse8ue wrote
What's with the downvotes? You WANT Democrats to throw younger workers under the bus?
UVJunglist t1_iwsqh4p wrote
This sub generally down votes anything critical of democrats. Doesn't really matter if the criticism has merit or not.
AstonGlobNerd t1_iwtj1df wrote
Reddit as a whole
Glute_Thighwalker t1_iwthnw6 wrote
How would they go about addressing the current liability? That money has all been promised to state workers, and they agreed to that as a condition of taking the job in the first place. It’s locked in. Can’t they only really affect it for future hires?
Extreme_Qwerty t1_iwv3um6 wrote
>How would they go about addressing the current liability?
They would CUT pensions and healthcare.
Promises aren't contracts. Nothing is 'locked in'.
The former state senate majority leader, Bob Mellow, recieves $20,000 a MONTH for his state pension. That's just ridiculous.
https://www.inquirer.com/philly/news/politics/state/Bob-Mellow-pension-prison-SERS.html
Glute_Thighwalker t1_iwwa0yb wrote
I’m a federal worker in large part because of the pension. If they cut it out of nowhere, my retirement planning and saving strategy over the last 15 years would be shot to hell. You can’t do that to people. I imagine we’d strike if they cut our pension benefits.
Extreme_Qwerty t1_iwxbvw5 wrote
I don't know how to break it to you, but an increasing number of Americans funding your pension and Social Security will have NEITHER available for them when they retire.
They don't give a fuck if yours is cut.
I fully expect to spend my retirement years living in a homeless shelter. If I'm lucky.
The number of Americans who struggle to obtain food and housing is on the rise, and the fastest growing demographic of homeless is senior citizens, many of whom get only Social Security.
You'll be lucky to get a portion of your pension and other retirement benefits.
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