I think anybody who has a pension, enrolled in the pension system, or is thinking about public sector service either State or Municipality, and actually thinks they are going to receive one is fooling themselves....I live in RI, and the unfunded liability is going to be 1.2 billion....think about that in RHODE ISLAND!!! As a state worker, I hope they just do away with it, it is going to happen anyway...
Eh, I actually agree with that a bit FS, not totally mind you, as math is math and acturial tables do not lie however as everyone else is squeezed and wealth continues to concentrate into the upper 1% of the economy there will be a political reckoning.
seems like you and I are together on the Dark Side The pension system here in Illinois is doomed. I just got on one (no choice in the matter actually), and the rumor is the pension system will be eliminated for the young sometime in the next 5 years, and we won't get one dime back. Not one. Mind you, I have to put thousands a year toward the thing. screw this. let me play the stocks with that money, especially now that the market is rebounding
The "right" to handle this is that no one should lose what they put in. If they scrap the system for new hires, so be it. If they scrap it for everyone, then at least pay out a pro-rated portion at the time or in the very least, pay back the $$$ they put into it. If someone is already retired, then they should not be affected as they have no other options to recoup anything. But, what is right and what is done is 2 different things and should be kicked upstairs to the pofo!