Tuesday, January 18, 2011

Excessive Public Pensions Aren't the Problem

Gerald McEntee, USA Today
With revenues plummeting during the economic crisis, states and cities across the country face real budget challenges. It is simply wrong, however, to suggest that modest retirement benefits paid to public service retirees are a cause, or even a part, of the budget problems facing governments.Pension payments account for less than 4% of the average state's spending, while the annual pension for AFSCME retirees averages $19,000. Critics of the pension system conveniently ignore the fact that our members contribute to their pensions with every paycheck, and that more than 85% of...

Source: http://www.realclearpolitics.com/2011/01/18/excessive_public_pensions_aren039t_the_problem_248982.html

Doggett, Lloyd Donnelly, Joe Doyle, Michael F. Dreier, David Driehaus, Steve

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