Communists are running out of other people’s money.
I believe that every statewide election in Washington has been rigged since the Democrats outright stole the gubernatorial election in 2004.
I guarantee that while Washington may be the first state to do this, it won’t be the last.
Your government hates you.
There are a lot of trees in Washington state. Is there enough rope?
Isn’t that against the law?
Who can he ask for assistance in reversing this theft, the DOJ?
If the legislators that terminated a paid for plan suddenly disappear, I guarantee that no jury will convict those who terminated them. Consider it, Washington voters. After all, you voted these slimeballs in, so do justice by releasing the terminators. Not even close to kidding. (Coming soon to other DemocRAT run third world states who are way underfinanced on their retirement promises.)
Liberals are pure unadulterated gutless scum.
The precedent was set when they started tapping the Social Security fund. That was promised never to be touched for general spending when it started in 1935. Then, in 1969, they couldn’t resist spending that pool of money. As it is now, given what I contributed and what my employer matched and a 5% growth rate, I’ll break even if I live to be 132 years old. I think I’m screwed.
The state stopped pension payments, and terminated the plan for those still working? Why is this not a breach of contract?
State politicians get a pay raise?
I wonder what the details are. Many public employee pension plans require mandatory employee contributions, a set percentage of your salary.
If that’s the case here, what happened to the employee contributions? It’s hard to believe that the state just took it.
Oh, wait. It’s “progressive” Washington state. Maybe that’s not so hard to believe after all.
Just as long as the judges who will handle these cases get their full pay pensions.
I live in Washington state and LEOFF 1 retirement eligibility ended in October 1977, which means you had to be hired before that date but could retire at 50 with 5 years of service.
The ever reducing number of retirees will never burn through $4.3 billion, but what the state did was wrong. So what was the state’s plan to do with all that cash? I assume they would sweep it, like they do when a retiree dies without a designated survivor.
This illustrates one of the many reasons why communists don’t know why they’re communist.
Let’s watch California, New York, New Jersey, and Illinois follow.
I can’t wait. Liberalism on display.
You would think the defining law(s) that would establish whether or not the LEOFF pension fund can be “raided” like the Dims want to would be the law(s) of the state that set up the pension plan and defined its legal framework. Yet, laws can be modified by newer legislation, including laws regarding state backed pensions, so maybe the new legislation is Constitutional.
The state is going to argue the fund is not only still solvent and will remain so but even after the fund gives up about $4 billion in reserves to the state it will still be more than 100% fully funded.
The plaintiffs will argue no one knows the future of the funds underlying investments and even being 120% fully funded does not insure some financial calamity will take the reserves below 100% of full funding.
It is a bit odd that that fund is now about 200% fully funded. Many pension systems run by state governments are often under funded.
It’s difficult to sympathize with public employees that retires at 50 years old and 100% of the average of their last 3 years pay.
And 100% medical and dental for life, free of charge.
Are they going to send checks to each retireeq?
When you work for thieves, what do you expect?