[quote=harvey][quote=SK in CV]I won’t avoid the question. It’s an easy one. The employer contracted for the liability, so assumes the risk. Exactly as with defined benefits in private industry.[/quote]
No, not exactly the same. Private pensions do not have the built-in taxpayer bailouts. If the State of California could declare bankruptcy, then they would be the same.
The problem with using euphemisms like “employer” is that it masks actual relationship, which is between the taxpayer and the employee.[/quote]
