>Pension Reform : It is the State government that has failed to pay into the pension
While there is little doubt that some form of change will take place. Public employees have paid into their pension each and every pay period. It is the government that has failed to pay into the pensions. Where did that money go? Why were the payments not made? If a private pension fund was managed that way someone in management would go going to jail.
1. The teachers (and other state employees) paid their share of pensions, the state repeatedly did not pay their share, that is why it is massively underfunded.
2. During the boom years people made choices. In the private sector, achievers got large raises and bonuses. Teachers didn”t fly high but got the promise of job security and very good benefits. Now that the boom is over, the former high-flyers say that teachers should be treated just like them. If the economy ever booms again, will you be giving private sector style bonuses to teachers?
3. I absolutely agree that public pensions shouldn’t be able to be manipulated at the end – moving from a 3 year average salary to a 5 year average salary is very sensible. What happens now is that crafty people go for a supervisory job at the end of their career, a job that they don”t really want or put their heart into, but which boosts their salaries.
