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~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~

 
BloodRed
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02/04/2011 07:37 PM
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~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~

~ From the article:

New York City's pension was on track to run out of money in ten years. Thus no one is surprised that Bloomberg has proposed for major reform.

The key changes include raising the retirement age from 57 to 65.

He also wants to up the minimum term of employment from 5 to 10 years.

Additionally he would proscribe practices like adding accumulated overtime to final year pay to boost pension benefits.

The first two changes are constitutionally protected and require support from the state. Normally this would be unlikely, but in 2011 there's a pension crisis everywhere from Albany to Greece.

Here are the full details from the Mayor's press office, via the NYT:

~ (READ MORE...)

~ The article from the website:

[link to www.businessinsider.com]

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~ Y'all Are CrAzY Doom Tards!! But I love y'all anyway... well, not the shills, not so much... ~

~ Wanna know what we're all here for? THEY know: [link to www.youtube.com] ... So if _THEY_ can manage this, why in the world are WE such hateful fail-tards, people ........ ? ~
Anonymous Coward
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02/04/2011 07:38 PM
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Re: ~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~
austerity for you !!
Anonymous Coward
User ID: 968016
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02/04/2011 07:40 PM
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Re: ~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~

~ From the article:

New York City's pension was on track to run out of money in ten years. Thus no one is surprised that Bloomberg has proposed for major reform.

The key changes include raising the retirement age from 57 to 65.

He also wants to up the minimum term of employment from 5 to 10 years.

Additionally he would proscribe practices like adding accumulated overtime to final year pay to boost pension benefits.

The first two changes are constitutionally protected and require support from the state. Normally this would be unlikely, but in 2011 there's a pension crisis everywhere from Albany to Greece.

Here are the full details from the Mayor's press office, via the NYT:

~ (READ MORE...)

~ The article from the website:

[link to www.businessinsider.com]

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 Quoting: BloodRed


clappa it's a good start
Anonymous Coward
User ID: 1222416
United States
02/04/2011 07:42 PM
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Re: ~ OMG!! (AND SO) IT BEGINS: Bloomberg Unveils His Plans To Slash Benefits, And Raise The Retirement Age...!! ~
It's about time on the pension! I know a retiree sailing the world on his yacht that gets more than $100K a year as a retired NYC cop. He can count on a good 25 years of that, as can so many othes. Raise that age for that kind of money.

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