Public Employee Pensions Are Bankrupting the Country

THE DOCTOR IS IN
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LAS VEGAS - Hello America,and how is the world treating you?

Public Employee Retirement Systems are bankrupting cities and state across this nation but lawmakers continue to refuse to correct the problem. For years now Governors and legislators have said that the problem should be addressed but they fail to cut the mushrooming cost of state and local public employee pensions.

Most of these lawmakers say cuts should be made but they continue to pander to the powerful Public Employee Unions and kick the can down the road. Why? One good reason is because judges, lawmakers, local boards, councils and commissions and Governors and Attorney Generals are generally covered by the same pension plan. Folks,my view is that there is a very big CONFLICT OF INTEREST here when it come to lawmakers revising a pension plan that pertains to themselves.

All of the people working in the private sector have to make their voices heard "loud and clear." The people holding jobs in the private sector have to depend on a 401(k) for their retirement and/or pension plan. These Public Employees should be held to the same standard and the same retirement benefits as Main Street Joe Doe instead of allowing them to retire on as much as 75% of their highest pay.

Let's look at this example: According to the Segal company, a consulting company out of Chicago doing a study on the difference between Public and Private Sector pay said:- - that when a person retires on Social Security out of the private sector at 66 or 67 years that person can expect a benefit of 25 percent to 40 percent of their highest salary. If the person made $30,000 a year they would in all likelihood receive 40 percent as benefits. If the salary was $90,000 a year that person could expect to receive only 25 percent of their highest salary in benefits.

However, Public Employees receive up to 75 percent of their highest salary, (i.e.), if the person made $100,000.00 a year and retired after 30 years their pension would be a whopping $75,000 a year. That's just plain WRONG!

The lawmakers in every city, county and state have to say enough is enough and either renegotiate these obscene benefit packages with the Public Employee unions or FIRE them and start over with new employees and a new reasonable and fair salary scale "without" all of the bonuses, free health care for the employee and their family members,without guaranteed "cost of living" (COLA's) which ranges from 4 to 14 percent in some cities, counties and states and over generous step increases. Don't just negotiate the cut for a few years,private sector workers doesn't receive these benefits. Stop those excessive benefits for GOOD.

Let these Public Employees work for a salary like everyone else. Offer the fair salary on hire and ONLY a (401(k))retirement plan. That would allow the public employee to know exactly what the pay is and what it will be, period! That is how it is done in the private sector so why not in the public sector.

I predict that if some of these lawmakers across the country did fire the Public Employees and began from square one there would be a line out the door with people wanting the job. There is no shortage of applicants. Anytime a city, county or state government hires, fireman, policeman, etc., there are thousands of applicants for only a few positions. My question? What is the lawmakers waiting on? Have these unions cut back on the lucrative wages, benefits and pensions or FIRE them.

The states are spending money like a drunken sailor and money that they do not have just to keep this idiotic perpetual money stream going to all of these Public Employees. The sad part is that the Public Employees salaries, bonuses, COLA's free health care for the employee and his/her family is being subsidized by the private sector worker who does not have these same benefits and who has to pay for their own health care. - And, that's my opinion. Make your own decisions. You decide.

Bradley W. Kuhns, Ph.D., O.M.D.
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Dr. Kuhns can be reached by e-mail at:
bradleykuhns@gmail.com