[quote=CA renter]No offense, but why do so many people continue with the lies about public sector workers not taking a hit? IMHO, many of them are going to see 10-35% pay cuts going forward. Some have already seen rather significant cuts already.[/quote]
Well, back to the original point someone made about defined contrib. vs. defined benefit.
If the public employees are taking a hit to boost their pension, then that is more like a defined contribution plan, which is a good thing. In a defined benefit plan, they wouldn’t take that hit – the state would have to.
So yes – some public employees may not be on a defined benefit plan.
This doesn’t mean I’m happy about the ones that are.
