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Ha Ha!

He knows “TL math”:

*ASSUME* the average CalPERS retire retires at fifty with $100,000 per year, plus three percent COLA every year and $20,000 medical per year, for LIFE.

It’s a wonder we’re not swamped already.

Skippy, when (not if) the money runs out, it won’t matter.

Retiree could delay that impact if they acknowledge that current accruals are simply way too generous, unnecessary, and unaffordable …. and then support the material FUTURE-Service pension accrual rate reductions we so greatly need.

As you well know, TL, Reed’s proposal is nothing more than an attempt to get the camel’s nose under the tent. That doesn’t change the fact that CalSTRS has existing obligations to keep that will be funded one way or another.

You make no more sense than the Teabillies who thought it would be a good idea to default on our national debt by refusing to increase the debt limit last year. Fortunately, cooler and saner heads prevailed on that issue, just as they will eventually do on this one.

No Skippy, it would be far better to reduce FUTURE Service pension accrual of all CURRENT workers to a level with a value (considering BOTH the richness of the formulas AND the provsions) no greater than those of reasonably comparable Private Sector workers.

Doing so would fix the problem going forward ….. and stop digging the hole deeper each day.

ONLY THEN should Taxpayers even consider addressing PAST Service accruals.

If you won’t the FUTURE, them you’ll lose the PAST as well. If the retiree had any brains (i.e., financial common sense), they would SUPPORT Reed’s proposal.

It would be far better to give the CalSTRS Board the same authority for setting rates that the CalPERS Board now has. That would prevent the unnecessary politicization of what we all know will eventually happen anyway.

Not at all, Donkey. I’ve generally been able to resolve most problems without any use of force at all, and learned long ago that talking things out was far better than fighting them out. That’s why I’ve had a very successful career and avoided unnecessary injuries along the way.

Let’s makeit a line item when YOUR property taxes aren’t protected by Prop 13.