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If the answer is to bankrupt the state and make millions suffer so thousands live in early retirement luxury, the morally right solution is to bring benefits ba
by seibelj 10y ago
If the answer is to bankrupt the state and make millions suffer so thousands live in early retirement luxury, the morally right solution is to bring benefits back to reality. Down vote me all you want, when push comes to shove over the coming years, it won't be everyone bending over backwards to pay someone 90% of their highest income when they retired at 50. It didn't happen in Detroit and it won't happen anywhere.
- ceejayoz 10y agoWe wouldn't accept raiding private 401(k) accounts for The Greater Good. Why accept it for the public equivalent?
- seibelj 10y ago401k accounts are defined contribution. A public pension is underfunded by the recipient and are guaranteed for life with no cap on receiving. This is a model that leads to bankruptcy, they are unaffordable.