3 ms·
They were promised something by the city that couldn’t be delivered to them. There’s no other way out. Is there a difference in Silicon Valley workers being p
by dev_dull 7y ago
They were promised something by the city that couldn’t be delivered to them. There’s no other way out.
Is there a difference in Silicon Valley workers being promised future stock if they just forgo their paycheck for a little while longer? The Difference of courses that taxpayers don’t foot the difference.
- moorhosj 7y agoSilicon Valley workers also don’t work for the taxpayers, so that would be another difference. Who would pay public employees if not taxpayers?
- rocqua 7y agoDifferences between silicon valley stock and city pensions are 1) stock options are a known volatile thing rather than a government backed guarantee. 2) Missed Stock options are much easier to compensate for financially than a pension. If you miss stock options, you are still part of the wage pool. If you miss a pension that is much harder. After all, the point of a pension is to take care of people who are 'worn out'. Hence, there is much less of a fall-back system for missed pensions.