The retiree benefits could be changed by state legislatures, in most cases. However, they don’t have the motivation to do so. Schools’ unions have a lot more political clout than taxpayers, even if the taxpayers realized where their “education” money was going.
In a vacuum, I like your idea about throwing it all into Social Security, but I wouldn’t want the Federal government to have that kind of power over retirement arrangements of other entities. If they can grab school employees’ pensions, they can grab your 401(k).
I understand what you are saying, although I think of 401Ks and others as being private monies and government retirements and bennies being public monies.
A pipe dream I know, and while they are at it, no more government employee unions either!!
I understand what you are saying, although I think of 401Ks and others as being private monies and government retirements and bennies being public monies.
A pipe dream I know, and while they are at it, no more government employee unions either!!