Check in with people who work in private industry

Article posted on July 27, 2014

I read a few interesting stories today in papers from around the state. One covered the arguments over the pension problem and included comments from the PSEA saying that no legislative action should be taken, that the problem will fix itself. Really, that’s what they said. The Democrats are talking about borrowing our way out of this mess. The central point of their argument is that the current plan should not be touched, even for new hires. That the taxpayers of this state should always be on the hook for whatever the pension obligation is today or in 20 years. That even though most everyone in the private sector changed their retirement programs to a 401K type of product years ago, public sector employees should receive a defined benefit plan regardless of cost. Maybe these folks should check in with people who work in private industry, or better yet, someone who pays taxes.


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