Pension gap divides public and private workers

SuMar

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As sweet as """government""" employees get,,,, thanks to our own money of coarse? Or do you even have a pension?

State and local governments have sweetened retirement benefits during the past decade at a time when corporations have soured on them because of their cost. Only 18% of private workers now have traditional defined benefit pension plans, compared with more than 80% of government employees.

Governments' generosity could have serious consequences for taxpayers and pensioners. Some states — including Illinois, Indiana, Michigan, New Jersey, Ohio and West Virginia — have troubled retirement systems that may require huge tax increases, spending cuts or even defaulting on promised benefits. The U.S. government has a bigger unfunded liability for military and civil servant retirement benefits ($4.7 trillion) than it does for Social Security ($4.6 trillion).
 

Titanic Sailor

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good, glad to see that. One fourth of all public employees and growing don't even pay into Social Security, and yet the bulk of these employees are fanatical Democrats. Unfunded pensions should be outlawed, and if we want to fix Social Security, every citizen should be paying into the system first. Everyone has health care then everyone pays into Social Security too.
 

Mr. H.

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Pension? What's a pension? Every nickle in my IRA I've put there myself over the past 30 years.
Maybe enough to live on for... 2 years?
 

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