I'm baaaaaaack.

Hoarding All the Glitter Since 2001.

02 April 2012

Pension Problems

The argument that teachers just have it too good with their pensions bothers me.  It's pretty simple: pensions allow workers a chance at a sustainable retirement after years of service.  If you're against that, what are you for?  Unreliable 401(K)s that may or may not be there when you need them?  Social Security, for which teachers are ineligible and which can't support a retiree anyway?  Or just having the peons work until they die?

In all the debate about pensions and public workers, there's little discussion of how pension funds have gotten into trouble.  Regular underfunding - not by those who will receive benefits, but by their employers - is one.  Bad returns and big fees are another.  It's interesting that the anti-pension forces are the same ones making pension funds shrink.

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