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Rep. Everett: Pension reform still looms

July 9, 2013

Of the three major initiatives that were not included in the $28....

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weldnpipe

Jul-09-13 3:42 PM

Sorry, I meant put the small buisnesses under in a short time.

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weldnpipe

Jul-09-13 3:41 PM

Very well said, Johnny. And instead of selling the liqour stores for a one time windfall, leave those jobs alone. They are self sufficent, and hurting no one. Walmart, Wegmans and Weis's don't need to profit from this, too. They would surely put the small buisnesses in a very short time. Tack aanother $0.25 tax on each bottle and fund the pension that the trustees dropped the ball on. And there would be plenty for schools also. You gotta love the "big, powerful union" statement too. This guy is so full of crap. Oh, and maybe account for some of the gas money the state seems to have misplaced, too.

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johnnyad3

Jul-09-13 1:15 PM

Mr. Everett makes it seem like All private sector employees have annuity/401's for a retirement plan. That's simply not true.

I am in the private sector and have a pension plan. He's concerned about all the overtime. How my pension is designed is based on credit years. You get so much per year. For example, if you get $40 per year and you work 40 years, you get $1600 per month when you retire.

With defined contributions, the older worker will have to work longer especially if you have another Great Recession/Depression. Then instead of having young people rotating in to the economy, you end up with high unemployment in sections of the economy.

One last thing, whoever were the trustees of the pension plan when they did not contribute to the plan while the workers did should be in jail.

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