Flaw found in public sector pensions
Sheesh. Nothing like letting a headline reveal your real thoughts: “Flaw found in proposed pension shift”
The flaw? Every public employee pays into the state pensions and is matched by the public employer. However, not every employee “vests.” Quite a few leave before they vest. When they leave they can withdraw their own payments, but not the employer’s payments. That is kept by the pension to give to those who do vest.
So, yes, there’s a flaw in the public sector pension. The pensions and employers are lying to the employees about what they are offering them and then taking that money to give to someone else. Of course that is the main function of government, to lie and take money from people. Good job identifying a true flaw, and indeed, what is practically a crime.
But needless to say that’s not the flaw they’re worried about. No, the flaw they are worried about is that by reducing the employer contribution and increasing the employee contribution, the victims in this scheme will be less victimized. They get to keep more of their own money, instead of having it stolen to give to someone else. The pensions are saying, “Wait, we don’t get to keep what we stole.”
I can understand why Aristotle takes the position that this is a flaw; he is both a Democrat and the representative of the scheme. But what in the world is wrong with the paper?