DISQUS

Shawn · 2 years ago

Nelson,
With all due respect, the pension series is completely wrong and off the mark on a number of key points. While there is certainly room for improvement and, in some cases “reform” of our current pension system, the sky is not falling.
The lions share of the taxpayer’s contribution to the pension systems goes toward paying off the unfunded liability, which dates back to the previous generation, when the government was not paying its share into the retirement system. The modern age of pension funding for Massachusetts did not begin until 1985, well after most other states.
Some twenty-two years later, we have come a long way. Today’s public employees pay upwards of 11% of their base salary into the pension system (overtime, details, etc are not included). Report after report shows that these employees are in fact paying for their own pension benefit. As a result of the employee contributions, the taxpayer’s commitment towards funding the pension system is actually going down.
Unfortunately, we cannot escape the sins of the past and the current generation of taxpayers is left with the bill. But it is not the fault of the public retirees and employees, who are paying a king’s ransom to fund their own pensions.
It is easy to single out a retired judge and college administrator with higher than average pensions. But they are not the norm. How about you guys spend the time and resources writing a series on retirees, both public and private, who are barely getting by on very modest incomes. Some ration prescription drugs and food to themselves, just to get by.
I understand the need to root out abuse and wrongdoing, but when you get the facts wrong it does not help anyone.
Thanks for listening.
Shawn D.
Quincy, MA