There is a great deal of argument over pension reform. The most recent highlights an increase in the federal contribution rate federal workers must carry. The one thing everyone must keep in mind is the workers at the federal, state and local levels, including teachers, do not pay Social Security tax. The heavy burden they carry of a couple of percentage points over the individual Social Security tax rate which does not include the employer portion, provides them the opportunity to retire at the age of 55 with an income that is a minimum of three or four times higher than the lucky private sector individuals will receive from Social Security when they reach 67 or whatever age they extend it to in the future.
As taxpayers footing the bill for this, I don't know how we can place this hardship on these poor public sector workers.
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