[quote=briansd1][quote=SK in CV][quote=Aecetia]So Brian, what do you propose to do with the “privileged class”? What is the solution to the retirees already getting the pensions?[/quote]
As a practical matter, I’m pretty sure nothing can be done, unless those already getting the pensions are doing so as a result of illegal acts. That is, unless the retirement systems go bankrupt, in which case all pension beneficiaries would probably be treated similarly.[/quote]
Pretty much what SK said.
The contracts are very hard to undo. Bankruptcy in some municipalities will show the potential course of action for other municipalities.[/quote]
I’m not sure that municipality bankrutpcies will have any effect on current retirees, with regards to pensions. (health care benefits are a different story.) I think it’s possible that liabilities related to already retired employee pensions may shift from the individual employers (municipalities, school districts, etc.) to the plan trustees (STRS, CalPers). Interesting question though. I responded originally as if I was pretty sure. I still think I’m right, but far from positive.
