Pensions Not the Problem
March 7, 2011 by Amy Buffenbarger
Filed under Must Reads
Research shows that “there’s simply no evidence that state pensions are the current burden to public finances that their critics claim.” Pension contributions from state and local employers amount to 2.9% of state spending. Source: McClatchy Newspapers
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Employee costs are averaging 62% of states budgets and that figure is climbing rapidly. Funding our great pensions will soon eat up over 85% of state budgets.
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Just read the news about pensions and you will learn the truth;
http://www.pensiontsunami.com/
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Thank you for this article! Finally, an article that makes sense. You don’t need to pay off your whole mortgage next year, and the states don’t need to pay off all their retirees then, either.
The “handful” of states whose teachers aren’t allowed to pay into Social Security actually are 15 of them, involving 1/3 of America’s teachers. These teachers also lose all or part of the Social Security retirement benefits that they have earned elsewhere because of the Windfall Elimination Provision and the Government Pension Offset. These provisions need to be repealed! See ssfairness.com
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