Quote:
Originally Posted by HockeyIlliterate
This inequity is, in my view, the larger issue that will have to be dealt with in the near future, and none of the possible solutions are truly politically palatable.
And it isn't just a teacher problem: plenty of ex-government and -union employees are in the same situation, where promises made years and years ago are finally coming due, and suddenly people are realizing that (i) the promises were never fully funded; and/or (ii) the promises cannot be fully kept.
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New York pays more retired police than current police. Many counties and municipalities in rural Canada are so burdened with police and firefighter pensions that the government is essentially a mechanism for collecting taxes from residents and disbursing them to retired employees. They don't have the budget for anything else - including hiring new police or firefighters.
If there's anything Boomers have to answer for, it's the criminally-reckless pyramid scheme of the public pensions they've burdened succeeding generations with. With relentlessly increasing lifespans, it's absurd that public workers have been retiring with full pensions and benefits at 50 and 55.