Breaking News Bar
posted: 8/10/2012 10:33 AM

Alter pension system to be sustainable

hello
Success - Article sent! close
 

A recent article in the Daily Herald, "Chief gets $136,000 salary and a $100,000 pension," illustrates the absurdity of the government pension system. A pension based on 75 or 80 percent of the final salary with an automatic 3 percent annual compounded boost is unrealistic and unsustainable.

It is time the pension system for all public employees, from the president on down, be changed to a defined contribution plan such as a 401(k). Also, pension gains through questionable backroom deals like working one month as a teacher to qualify for those benefits must be rescinded immediately.

Do we have any politicians with enough common sense to propose this change and to few to vote it into law? I doubt it will happen. Too many are in office too long and have lost touch with reality.

Dave Forster

Elk Grove Village

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.