Monday, February 25, 2013

Interview with myself: pensions. | Fred Klonsky

Interview with myself: pensions. | Fred Klonsky:

Interview with myself: pensions.

What is Senate Bill 2404?
This is the bill backed by the We Are One coalition of public employee unions. It has three components.
It requires ‘ironclad” funding of the state’s obligation to the employee pension fund. It also includes debt repayment.
We Are One claims the bill allows for legal remedies, by the pension system or individuals, if the payments aren’t made.
It also includes the requirement that those active employees pay an additional 2% into their pension systems.
Are you for it or against it?
I’m mostly for it.
But with a number of concerns.
I don’t believe anything is ironclad when it comes to Springfield.
For example, what if the pension obligation is shifted to the local school districts or municipalities? If the