Post by ruppsrunt on Sept 12, 2019 14:58:54 GMT -5
www.investors.com/politics/editorials/bankrupt-public-employee-pensions-the-next-big-financial-crisis/
A New York Times piece last week highlighted the growing problem. In Oregon, for instance, some public employees receive enormous pensions, thanks to negotiating precedents set by public-sector labor unions. One example: Joseph Robertson, the retired head of Oregon Health & Science University, takes home a pension of $76,111. That's every month.
But it isn't just Oregon. The Times piece also highlights Scranton, Pa. There, 58% of police and firefighters are on disability pensions, retiring before the normal minimum age. The average age of retired police officers in Scranton, the Times reported, was 44.9 years old.
And Illinois is on the verge of insolvency thanks to its pension disaster.
rr
A New York Times piece last week highlighted the growing problem. In Oregon, for instance, some public employees receive enormous pensions, thanks to negotiating precedents set by public-sector labor unions. One example: Joseph Robertson, the retired head of Oregon Health & Science University, takes home a pension of $76,111. That's every month.
But it isn't just Oregon. The Times piece also highlights Scranton, Pa. There, 58% of police and firefighters are on disability pensions, retiring before the normal minimum age. The average age of retired police officers in Scranton, the Times reported, was 44.9 years old.
And Illinois is on the verge of insolvency thanks to its pension disaster.
rr
