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Showing posts with the label California

Pension Non-Reform In Connecticut

To compel a man to furnish contributions of money for the propagation of opinions which he disbelieves, is sinful and tyrannical – Thomas Jefferson California, of all places, is making a stab – too little, too late -- at reigning in its Gargantuan pension liabilities. Pension reformers in California recognize frankly that certain kinds of state workers should not be invested with benefits and pensions in excess of those available to all other workers in the private market place. California’s unaffordable pension and salary burden can be ameliorated, reformers say, by dividing government employee benefits into three types: 1) benefits already earned for completed work, 2) those under pending contracts that relate to future work, and 3) those performing work not yet performed and not covered by contracts written in stone. Under a reform regime, different levels of protection will be afforded to the different groups. Level 1 workers will be afforded full protection; pension an...