Posted on 02/05/2019 9:29:11 AM PST by SeekAndFind
Cull the herd ...
LOL. Then why isn’t this a massive crisis for every single pension plan? The reality is that the government is trying to blame actuarial tables for their politicians completely overly generous pension benefit give-away that was put in place to get votes for the politicians who voted for it. The crisis happened when the legislature voted for this obscene boondoggle, not now based on some actuarial mistake.
The short answer to “Why do I have to wait so long to catch the bus in Pittsburgh?”
Because over half of their revenue is going to pay guys who retired younger than I am to sit home and watch Jerry Springer.
The country made lucrative pension promises to government workers and didn’t bother funding. Unless I’m wrong, a lot of government workers’ pensions pay them 80% of their final year or two salary. Compare that to social security. By the way, tax payers pay for bot of those pensions.
With direct deposit I suspect a lot of them live long after their death buried in the basement or the back yard.
Public employees who sit at a desk all day are supposed to die early. But they don’t. Another health myth destroyed.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.