Reply #10: For most of my career I didn't contribute to my pension [View All]

[Ratty]

For decades the fund has made more money in its investments than it ever paid out, so neither employer or employee contributed. Only in the last year do we have to start paying a percent of salary toward our retirement. That's more an issue of letting the fox into the chicken coop though, rather than the stock market crash. With the Republican governor packing the board, the long time pension manager with a stellar record of success was fired and one of their cronies was brought in who then proceeded to drive the fund into the ground. Now we have these huge scandals involving kickbacks, bribery, investment "middle-men" commanding huge commissions - you name it. The lesson to be learned is don't let Republicans anywhere near your pension funds. BTW we've always had to pay toward our own health benefits. In fact my payment doubled this year.

I would love to hear Paul actually name an example of a government union whose members don't contribute to their pension. If any still exist it would be because sound, non-Republican investment strategies keep the fund self-sustaining. I'd love to hear of a case where the taxpayers foot the bill and workers pay nothing.