I understand that public employees (and those employed by them to do so) need to think about frameworks for public employee retirement. The rest of us (i.e. the majority of taxpayers) are thinking about frameworks for all employee retirements, and are not all that interested in being the source of the funding needed to fix pension systems mismanaged in the ways you describe.
This is even more true for those of us not members of the public served by these systems, e.g. residents of Idaho asked to bailout the public pension systems of California or Illinois.
I do not foresee anything other than bandaids... because to make these pensions whole would take an eye-popping amount of money.
The MEP bailout embedded in Pelosi's bill is what I call a half-assed bailout. The bailed-out pensions almost definitely will need to be bailed out again in a decade or sooner
I understand that public employees (and those employed by them to do so) need to think about frameworks for public employee retirement. The rest of us (i.e. the majority of taxpayers) are thinking about frameworks for all employee retirements, and are not all that interested in being the source of the funding needed to fix pension systems mismanaged in the ways you describe.
This is even more true for those of us not members of the public served by these systems, e.g. residents of Idaho asked to bailout the public pension systems of California or Illinois.
I do not foresee anything other than bandaids... because to make these pensions whole would take an eye-popping amount of money.
The MEP bailout embedded in Pelosi's bill is what I call a half-assed bailout. The bailed-out pensions almost definitely will need to be bailed out again in a decade or sooner