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The article says that El Monte did this - they abolished the supplemental top-up pension in 2008; but paying just those few who qualified for it from 2000-2008
by CountSessine 10y ago
The article says that El Monte did this - they abolished the supplemental top-up pension in 2008; but paying just those few who qualified for it from 2000-2008 is devastatingly expensive.
I agree though - cancelling plum benefits while grandfathering existing recipients is the only politically tractable approach.
- candiodari 10y ago> I agree though - cancelling plum benefits while grandfathering existing recipients is the only politically tractable approach. How about the approach that was used in the 80s ? 20% year-on-year inflation for a while with the government lying about it saying it's 5% ? That "reduces" liabilities by 15% per year.
- CountSessine 10y agoAs an on-again-off-again libertarian, my preference would be for the government to do as little as absolutely possible so that we might never have to deal with public sector unions again. Then there are no incentives to lie.