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Originally Posted by Slava
Surely there is a gap between a poverty level wage and a living wage with a DB pension though? I mean there is nothing wrong with a decent wage, benefits and even a DC pension for a non-skilled worker?
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I’m sure it’s easy for you to say there’s nothing wrong with it when you’re not the one having to retire on it. There’s little to no guarantees with a DC plan.
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While we don't see a lot of examples in this thread about municipalities that have tried and failed to use private waste collection, we all know of entities with a lot of DB pension exposure that have suffered through the years.
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Outsourcing or switching to a DC plan will increase the burden by leaving the plan with less employees paying into it, increasing the likelihood of insolvency.