'COVID really silenced the conversation because we got so much money from the federal government that we were able to make our budgets work, but really,
this problem started 20 years ago, almost a quarter of a century ago, with the pension funds,' John Diamond, Center for Public Finance Director at Rice University,
told KTRK.
And guess what the mayor wants to apply a 5% across the board cuts to?
You guessed it - Pension Funds for firefighters, police, and other city employees.
If you look at any city around the country, most of them face budget issues because?
You guessed it - Pension funds for firefighters, police, and other city workers.
These pension funds are unsustainable, and have to be revamped. There are police and firefighters that are jobs less than a year, and get pension money for a strained back, and many of these same "heros' are double dipping from other jurisdictions, and in some cases have been fired from other departments, and get new jobs in another city.
There is no bigger welfare queen on the planet than city, and state employees with their overly generous pension funds, that prevent all of these cities from being able to provide other needed services to it's citizens.
All of Americas mayors need to have a summit, and completely redo the pension system for it's workers. The first being that if you don't have 20 years of service, there is no pension. And if you "strain your back", you can get workers compensation like everybody else, if you are out of work long enough. And if you are a jurisdiction hopper to try and double dip, that shit don't fly no more. If you hop from place to place, there is no pension for job injury, and unless you've got 20 years, there are no pension benefits for you.
All of these local government employees can get matched 401Ks like their private counterparts up to 6% of their pay, so if they retire early, that is what they will have to live on, unless they have another job lined up. You know. Like everybody else.