The Pension Benefit Guaranty Corporation doesn’t do the government pensions, the PBGC bails out failed company’s pension plans.
The Government issue is one of largess. It’s like the OC firefighters negotiating full benefits and 100% pay in retirement starting at age 55. That’s the problem with government pension plans.
So I fear we have a rather nasty set of strikes coming up in the future when the unrealistic pension plans allowing retirement at 55 with 100% benefits and salary, need to get corrected.
