[quote=CA renter]The contribution rates DO change, and THAT is what people are discussing during contract negotiations. The ***employees*** are being forced to increase their contribution rates. Those are public union ***employees*** who are often taking the hit for those increases, not just the employers. No, they are not token hits; and no, they do not just apply to younger employees.[/quote]
I think the concern is not what has happened already, but what has to happen to cover the shortfall.
Also, we are suggesting that putting new employees on a defined benefit plan only poses a risk for the future, give that we have seen this epic failure of the investments. Just put them on a 401K, negotiate a salary + employer 401K contribution, get out of the investment business and move on.
