I’ve read articles that say public employees pensions are excessive and a drain on the taxpayer. Is this true?
No. In fact, the public retirement systems’ defined benefit pensions provide financial protection for both plan participants and their fellow taxpayers. These systems provide participants with a lifetime benefit they won’t outlive — a problem faced by many Americans whose savings or 401(k) plans have been depleted in this recession. A pension reduces the likelihood that its recipients will have to turn to taxpayer-funded public assistance, Medicaid or social services in retirement, thus relieving taxpayers of future obligations, plus helps ensure these pensioners can continue to help sustain their local communities.
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