REFORM STATE PENSIONS NOW
By Dick Morris And Eileen McGann
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The Utah reform changes the pension system for public employees to a fixed defined state contribution so that the state has no longer to raise or lower its contributions to the retirement fund in response to the market fluctuations in the return these funds earn on their investments. It fixes the state contribution each year at 10% of the employees’ salary whether pension fund investments are doing well or doing poorly.
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When will “The State” start treating people as adults? How about we just give people their wage and let them decide what is best for them. Saving retirement may not be appropriate for someone who’s dying and needs a transplant, an expensive non-covered drug, or is just terminal. I don’t have specific examples. But I do know someone in poor health who filed for their social security early rather than waiting for their “full retirement” because it is lost when they die.
The Social Security Insurance fraud is a scam that is an intergenerational theft that is sexist and racist. It transfers wealth from poor minority men to rich white women. Simultaneously, the program steals future wealth from future generations to subsidize the excesses of the current retired class. Argh!
And, by the way, why is any public employee allowed to earn more than the President, or the Governor, or the Mayor?
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