Nekritz’s latest pension plan would cost retirees thousands in cost of living adjustments. And that’s just the beginning of the bad stuff. « Fred Klonsky

Nekritz’s latest pension plan would cost retirees thousands in cost of living adjustments. And that’s just the beginning of the bad stuff. « Fred Klonsky:

Nekritz’s latest pension plan would cost retirees thousands in cost of living adjustments. And that’s just the beginning of the bad stuff.

by Fred Klonsky

Greg Hinz is reporting the latest version of Squeezy the Pension Killing Cobra coming from Representative Nekritz.
From Crain’s:

Specifically, cost-of-living hikes would be limited to the first $25,000-a-year of pensions and would not kick in until age 67 or five years after retirement. State officials say fast-rising COLAs have been the biggest factor in driving the state’s unfunded pension liability to nearly $100 billion.

Also, the retirement age would go up one to five years (the higher figure would