“A conservative estimate at unfunded pension liabilities in the U.S. is $1 trillion a year, and some experts have placed the total much higher”
“Everybody will suffer if there’s a meltdown in pensions,” [EVERYONE BUT THE RECIPIENTS OF THESE BLOATED PENSIONS…]
The Harlem Democrat has filed retirement papers and is expected to get a state pension of less than $80,000 a year. [Much more with all the perks we, his boss, do NOT get in the private sector. He is allowed to ‘double dip’ and take another government job while we pay his pension, health care ect…]
state officials face a “financial and moral choice” about whether pension benefits will have to be cut, taxpayers will have to pay more, or both actions will be needed. [BWAHHHAHAHAH!!! SERIOUSLY, CUTS? NY HAS YET TO CUT A UNION ANYTHING….EVER! GET WHO WILL BE STUCK AS THEY GET MORE AND MORE FROM THE SHEEP OF NYS]
The New York State and Local Retirement Systems is a pension fund that has more than 1 million members, retirees and beneficiaries and is worth $132.8 billion. [AND GROWING] Employer contributions to the fund total about $2.5 billion a year……. the fund known as the Employees Retirement System, the average 2011-12 contribution rate will increase from 11.9 percent to 16.3 percent of payroll [THAT WE PAY FOR! WE ARE THE EMPLOYERS!!] ………… Police and Fire Retirement System, the average rate will go from 18.2 percent of payroll to 21.6 percent. [AND NOT ONE DIME COMES FROM THE EMPLOYEE! THE PAY ZERO INTO THIS SYSTEM!!!]
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