Town Square

Pension Reform -- at last!

Original post made by taxpayer, Downtown, on Jun 6, 2012

San Jose and San Diego voters have had enough, and they voted overwhelmingly for strict pension reform.

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Posted by FedUp
a resident of Amador Estates
on Jun 7, 2012 at 12:31 am

When is Pleasanton going to start reforming their pension system? How can we continue to fund outrageous pensions of $150K+ per year? Do you know how much $$ it takes to build up a nest egg capable of paying you $150K in retirement income? For a 30 year career, it's over $45K/year you must save with a 5% return per year. I'm sure these city employees are putting nothing close to that in as their contribution.

This needs to be reformed like San Jose - if folks want these Cadillac pensions, they need to contribute signficantly more.

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Posted by steven
a resident of Parkside
on Jun 7, 2012 at 6:53 am

I work much harder for my 32K than any of our incompitant union public school teachers who work half daze and half year's for there 125K. And what do we get for it? More unfounded liabilities and unsustainable futures. If they want a pension paid for by real Americans, let them work for them, stand up to being fired, and pay for them themselves.

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Posted by Steve
a resident of Parkside
on Jun 7, 2012 at 8:07 pm

Unfounded liabilities? Really, is that what they teach you in union controlled schools?

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Posted by steven
a resident of Parkside
on Jun 7, 2012 at 10:25 pm

Steve can only correct grammer errers. He never attacks the issues. But he's my hero just the same.

They had union controled schools in Nebraska when I was growing up. But my pappy took me out and home schooled me. He hated the incompitent teachers who tried to turn us all into Stalinesques.

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Posted by Voter
a resident of Old Towne
on Jun 7, 2012 at 11:20 pm

Unions caused manufacturing companies to move overseas.

Unions have dramatically cut into the ability for states to fund education because pensions are costing the states far too much.

Unions in the public sector means many people retire at around age 50. This means governments (meaning taxpayers) must fund a position, plus simultaneously pay massive pensions of 4-6 people who held that particular position before they retired.

Union wages in the public sector are greater than comparable jobs in the private sector.

It is time to end this insanity.

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Posted by PleasantonTaxpayer
a resident of Another Pleasanton neighborhood
on Jun 7, 2012 at 11:52 pm

Let's just say there are improvements around the edges in some places. Pleasanton is a LONG way from fixing excesses.
Slowing the revolving door at the top would be good for starters....ending the contrived promotions with tier boosting which ups the forever pay scale for retirement 'calculations'. It does seem our officials would have the knowledge of the practice.....,making them complicit in the conspiracy against us taxpayers. Then a realistic retirement age, in line with 21st century lifespans. Throw in honest realistic 'contributions' to medical vs the tiny token last time the only served to insult taxpayers.
Then we can start working down the list of excesses.