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Local Politics - Pension Debt
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Quote:No I don't. Employers should not be responsible for people's retirement, that should be up to the people. City employees should fund their own retirement plan (pension) through 401k's or other avenues. The problem is, the people who this funds were promised this money when they worked for the city and weren't given the option of 401Ks etc. We have to pay it one way or another (it's a legal debt) the only question is how we raise the money. The last few years they have borrowed from the city budget to pay it, taking money out of the budgets of the city's park division (which cuts down on cutting the grass, replacing lights and other park necessities) amongst other city services.
“It is the job of thinking people not to be on the side of the executioners.”
― Albert Camus |
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