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The pension deficit remains unresolved

From: domainremoved <Henry>
Date: Mon, 16 Mar 2015 10:45:48 -0700

The following article appeared yesterday:
By Daniel Borenstein, staff columnist 2015 Bay Area News Group
POSTED: 03/15/2015 04:00:00 PM PDT0 COMMENTS
Public employee unions repeatedly insist that workers' pension funds need not be fully funded, that a target of 80 percent is fine.
So it wasn't surprising that a retired labor leader advocated that position at a recent talk I gave in Oakland. It was, however, disconcerting that the city's assistant city administrator went even further, saying 75 percent funding was OK.
They're wrong. A goal of anything less than full funding unfairly forces future generations to pay for current workers' pensions and leaves local governments vulnerable to large future rate hikes.

http://www.contracostatimes.com/daniel-borenstein/ci_27700825/daniel-borenstein-labor-perpetuates-pension-myth-that-80
Received on Mon Mar 16 2015 - 10:41:22 PDT

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