Wednesday, February 27, 2013

Change public-employee pensions

The Washington Legislature has made promises it cannot keep. Public employees get generous pensions but the Legislature doesn't fully fund them. State investments assume 8% growth of the funds set aside. Sign me up. I want the magic investment too.

A Seattle Times editorial proposes switching from defines-benefit to defined-contribution. I agree.

And do it now to existing employees. My employer did that to me halfway through my work career.

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