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Public employees whining about pensions after Detroit goes bankrupt
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 43195617:MV8yMjk3NjkwXzM5MTIxMjE5X0EzNUYzMjA4] [quote:Anonymous Coward 21100567:MV8yMjk3NjkwXzM5MTIxMTYyXzc5OEFDMzFF] I thought by law they had to fund the pension accounts. If you worked for the city for 20 years and had a pension account built up, wouldn't that money be in your account and be your money?? Shouldn't the money already be there? I don't understand. I work for a college and a pension is part of our benefit package. they put 10% of your pay in your own personal pension account. We get a statement every quarter showing our balance. They fund it each month with the payroll. When we retire, we can either take 50% of it as a lump sum or leave it and receive annuity payments. The money has already been paid by the college and transferred to each one of the annuity accounts. What was Detroit doing different?? That's what I'm counting on for retirement income. I took a lower paying job because of their pension plan and health insurance package, so I earned it. that money is mine. Who wouldn't see it that way???? [/quote] Someone in authority took that money and gave it to their friends, and that's who they should seek redress and reimbursement from, not the public they fucked over for decades. [/quote]
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Saying it violates the money they were promised for retirement
Now you know why Detroit went bankrupt!!!! Lol
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