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I agree with you to an extent, but many states and school districts also engaged in fiscal malpractice by using defined-benefit employee pension plans to shift
by nradov 7mo ago
I agree with you to an extent, but many states and school districts also engaged in fiscal malpractice by using defined-benefit employee pension plans to shift costs into the future. Those plans are financial weapons of mass destruction: far too risky for employers, retirees, and taxpayers. We need to eliminate them and shift all public school employees to 403(b) defined-contribution plans. This is especially critical as school enrollment declines.
- throwaway27448 7mo ago[flagged]
- nradov 7mo agoThe pension issue has nothing to do with private schooling one way or the other so I don't know what point you're trying to make.
- throwaway27448 7mo agoWell surely corruption would be orders of magnitude worse under private management yea? Or are we pretending that schools trade on a competitive market, and that the US is a place that distributes money rationally? Cuz all evidence points towards privatization as a graft vector
- nradov 7mo agoBuddy you've really lost the plot here. Privatization or lack thereof has nothing to do with mismanagement of employee retirement benefits. Both public and private employers can set up defined-benefit or defined-contribution retirement plans. Defined benefit pension plans create a huge risk for both private and public schools because current operating funds intended for educating students might have to be diverted to meet financial obligations to retirees.
- deleted 7mo ago[deleted]
- throwaway27448 7mo agoOk, so why privatize?
- nradov 7mo agoPrivatize what? I'm not promoting privatization in this thread. You're still not making any sense.
- throwaway27448 7mo ago[flagged]