and that is the case with even private sector workersI saw that Care, I posted it for you earlier and I think hes making a huge hash of this.
I posted this below, which I find well, ridiculous....think it through, so they need what? a 20% bump in pay each year in exchange for forgoing the defined pension plan?
Out of every dollar that funds Wisconsin' s pension and health insurance plans for state workers, 100 cents comes from the state workers.
How can that be? Because the "contributions" consist of money that employees chose to take as deferred wages as pensions when they retire rather than take immediately in cash. The same is true with the health care plan. If this were not so a serious crime would be taking place, the gift of public funds rather than payment for services.
everything is a part of the pay package
right.
so giving up part of your salary increase and asking your employer to use this money towards your benefits instead of weekly cash via paycheck, is the employee giving up his earned salary compensation in return for his retirement compensation.