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Public Pensions. The next subprime?


Cknolls

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http://www.nbc11.com/news/15345539/detail.html

 

 

I believe this could be a good thing for other cities,counties and states facing the same problem. If pols had the b***s they would amend the constitutions so the necessary changes could be made to alleviate this gigantic drain on the respective budgets of the govt's.

 

The biggest change that could be made here in Illinois: You get 1 pension. Not 1 pension for every gov't you serve.

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QUOTE(Cknolls @ Feb 29, 2008 -> 12:24 PM)
http://www.nbc11.com/news/15345539/detail.html

I believe this could be a good thing for other cities,counties and states facing the same problem. If pols had the b***s they would amend the constitutions so the necessary changes could be made to alleviate this gigantic drain on the respective budgets of the govt's.

 

The biggest change that could be made here in Illinois: You get 1 pension. Not 1 pension for every gov't you serve.

How about no f*cking pensions. They can set up their own 401k or Roth like the rest of us. BUt I agree that it is messed up. Emil Jones will be richer when he retires than he is now when working from all the state jobs he has held. PLus, school administrators, once they retire, get paid by the state as a whole, no just the district they worked for. That is why they get big pay raises the last 3 or 4 years before they retire, so that the formula for their benefits is at its highest, and the whole state pays.

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