Quote:
Originally Posted by Torture
Only true if it's a DC pension which fair, is most private companies but there are companies in the private sector that have DB pensions and carry a liability. (Or that have now closed DB pensions they're still carrying liabilities for)
Even in the public sector, if you only worked for a few years, the "expense on the books" is not going to be large because you didn't accrue much pension benefit.
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We’re talking about hiring today, now. Private DB pensions are not a factor.
My dad worked for 40 years as a CA, mostly for private employers or in his private practice. But he did work for 4 years late in his life for the federal government. He has been receiving a modest federal pension for 20 years. Not a huge expense for the government. However, he was also eligible at retirement for a federal health care benefits plan. That
has cost the government a lot of money over the last 20 years.
Government departments absolutely do calculate the long-term costs associated with every hire. And given how hard it is to lay someone off from the public sector, and how scary public balance sheets already look going forward, each new position is given more scrutiny than a new hire in the private sector.