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Town Square

PENSION REFORM: San Jose police, firefighters' unions sue city over pension disclosure issues

Original post made on Mar 10, 2012

In the latest salvo in a battle over San Jose employee pension reform plans, a lawyer for three unions has filed a complaint against Mayor Chuck Reed and the city with the U.S. Securities and Exchange Commission.

Read the full story here Web Link posted Wednesday, February 29, 2012, 6:46 AM

Comments

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Posted by Greg
a resident of another community
on Mar 10, 2012 at 5:20 pm

Convert ALL civil employees to 401K's before we all go broke. No more public guarantees for pensions. You can live like the rest of us..


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Posted by Been There
a resident of Another Pleasanton neighborhood
on Mar 10, 2012 at 10:04 pm

Totally agree with Greg (above) ...live like the rest of us.


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Posted by Dan
a resident of Bridle Creek
on Mar 11, 2012 at 9:46 am

Greedy, greedy, greedy...

Public sector unions are going to fight to the bitter-end to keep their dues even though they know it would simultaneously bankrupt cities. Gotta give 'em credit, they're tenacious even if they're short-sighted.

Agree with Greg and BT.

Dan


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Posted by hoops
a resident of Mohr Park
on Mar 11, 2012 at 11:40 am

The simple and painful truth is that public sector unions do not deserve and have not earned the ridiculous pensions they think they are entitled to.This has been argued forever but look me in the eye and with a straight face tell me why you can retire at 50 or 55 with this crazy compensation.They were paid extremely well while working.I guess we can have the cities and states go bankrupt or we can honestly address the I am entitled to this because some idiots made a horrendous agreement years ago.How many people have lost homes,jobs,a big chunk of their 401k because of the financial crisis.Now it is time for these people to make an unplanned for adjustment as well.Work longer like everyone else and cut the benefits by whatever is needed.Hell,most fireman work so hard now that most of them have a second job while they are fireman.How many full time people with careers can do that?


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Posted by Steven
a resident of Pleasanton Meadows
on Mar 12, 2012 at 12:57 pm

Greedy, no kidding!!!

Have to blame the politicians too. See what is happening to the city of Stockton: Web Link

The guy they brought to clean the mess up called it a "Ponzi scheme".

The politicians gave themselves and the public sector unions a fantastic deal. Free health care for life after one month of employment, in the case of the city of Stockton.

Wait till the unfunded pensions start hitting closer to home.