[quote=harvey][quote=SK in CV]One thing that hasn’t been mentioned anywhere that I noticed, is that many (most?) public employees aren’t covered by Social Security. I know SD cops aren’t. So when we’re comparing that $50K a year pension or $100K a year pension, compared to a private industry employee 401K, an adjustment of $15 to $20K a year for social securty has to be made. [/quote]
It has already been mentioned, as stated above.
Plus SS doesn’t start until 65 (or 67 for many) – a difference of up to 17 years after some public-sector pensions.
What really hasn’t been mentioned here is your answer to the core question: Why should the pubic-sector be paid in a drastically different form than the private sector?
Thus far, we’ve only heard implied arguments based on small technicalities, e.g “cops don’t get social security”, “pensions and 401Ks are really the same because they are ‘deferred'”
Can you provide an answer to the question above – an answer that actually addresses the issue?[/quote]
Wrong. Social Security can start as early as 62 for retirees. And nobody has had to wait until 67 to collect full benefits.
