Tier 6 is no fix

Pension reform is in the news. Here’s one link about lobbying going on in the Capitol today. That link also includes video of one of the TV ads now airing.

Here’s a link to a Daily News article about concerns of Tier 6.

Take a look at who is pushing pension reform. The biggest name out there is a billionaire. He doesn’t have to worry about a pension does he, especially if he has enough money to offer to bankroll lawmakers willing to slash benefits for workers.

You can defend retirement security through NYSUT’s Member Action Center.

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6 Comments

  1. Mike March 6, 2012 at 3:56 pm #

    Well – its not quite that easy. I realize the “fair share” card gets played a LOT during any of these ads so thats par for the course. What about the fact that property owners, basically all of us are on the hook via property taxes? Its not just a few billionaires. Its all of us. We have to work longer to fund our own retirements while “helping” state employees. Yes, we do have to “cover” for losses. So, what exactly is fair?

    Id also like to know whats going to be done about pension-padding? Is that even on the table?

    The whole idea of paying people once they’ve left the company or workforce is an outdated concept. It might have worked in the 50′s or whatever and some of these union contracts were probably signed during the absolute best of times. But, what once was sustainable isnt any longer. Times are tougher. You cant just protect state workers at the expense of everyone else. Thats not fair at all. People need to be responsible for their own financial security. Its not up to the taxpayers or anyone else. The same goes for priovate companies – they can NOT keep aying you after you’ve left. It just doesnt work anymore. Just the way it is. The difference is that private companies cant hit up taxpayers to cover their pensions, if they go, they go!

    This tier also does nothing to address the 800lb pension Gorilla that is looming over many state budgets. Its a serious issue that will come full circle and then what? States having to go bankrupt? If that happens, then everyone loses, including current retirees and especially current workers. I dont see why the AFSCME or any other group would want a total default OR to expect taxpayers to back-fund their retirements. Its unrealistic.

    • Crystal Hall March 6, 2012 at 8:53 pm #

      I see some of your issues Mike. However, then ALL of the politicians and ALL government employees should also go on the same system you are recommending. Taxes should never have been used for our Pensions but due to poor handling by those that are in charge that appears to be what has become the default.

      Also, government should be placed under strict evaluations ‘by the people’ (as government is requesting of us) and can be booted after they did not perform correctly. Not voted out.

      Additionally, any citizen that is receiving any money from the government (welfare, food stamps, etc.) should NOT be able to vote!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! This way entitlement will not interfere with re-election (or the new booting system)

      By the way…… this will NEVER happen.

      The 800lb pension Gorilla should be reduced across the board, not just the middle class. And……… we should reduce the size of government and ENTITLEMENTS which are also mamouth Gorillas x 10!!!!!

      ENTITLEMENTS and expanded government are what is killing us. Not the small ($20,000 +/year) pensions that teachers have been paying in to. As a reminder……. we pay into OUR pension and we are paid minimal wages the first 10+ years we work!!!!!!!!!!

      • Mike March 6, 2012 at 11:21 pm #

        Crystal – some good points here. There are definitely other areas of budgetary concern, including the fact that plsnty of companies seem to get a free pass on taxes or get massive breaks to open businesses here. Its also totally unfair that the top earners have an esier time hiding money and income.

        Entitlements are also a killer. At least Govt workers are performing a task and doing something. Those that just live off the backs of others and are able bodied…..its gotta stop! Politicians should be on the same plans everyone else is, We agree there.

        I wouldnt put it past them to use retirement money for various pet prjects and such. Can they be trusted? I think not. I hope thats not the case.

        You make a good point though about tax mismanagement being an issue. We pay plenty in taxes to cover this stuff. What are they doing with all our money?

        • Crystal Hall March 7, 2012 at 9:52 pm #

          Thanks Michael for reading my reply. At least we can agree on some of our issues. One thing I know is that something has to change but it always seems to affect the little guy. Not the big guys at the top.

  2. Crystal Hall March 6, 2012 at 7:41 pm #

    I would like to ask all of the politicians how much their pensions (+ their total retirement package) are!

    Additionally, if all politicians had managed the taxes better they would NOT be going after our small pensions (which by the do not have additional benefits).

    Possibly we should be looking at reducing the Politicians pensions and ‘super’ benefits after they retire for not performing their jobs correctly. Maybe we as the people should come up with an evaluation! Hmmmmmmm what a thought!

    Also, I have read over and over again that the Government in NYS has already tapped into our pension pool to pay for their mismanagement of funds. Could that be why they are so aggressively trying to reduce our retirement because the money has ALREADY BEEN USED?!

  3. rose marie barra March 6, 2012 at 7:44 pm #

    No tier 6 please

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