Note that the pension problem is more a state and local problem than a federal one.

Reader comment on: Byron Wien and the Public Employees

Submitted by Lyle (United States), May 27, 2010 18:03

Note that federal employee pensions changed in 1987. The new plan pays only 1% of the average of the high 3 years pay times the number of years, which is not as good as old (may not be available anymore ) private plans, Although the plan does have a cola. The TSp (401k for government) is a 1% base contrib, 4% matching on the first 5% and none beyond that. So the federal plan is not as generous as a lot of private plans. (All plans include Social Security as a base).

State and local plans are a lot more generous than this.


Note: Comments are moderated by the editor and are subject to editing.

Other reader comments on this item

Title By Date
⇒ Note that the pension problem is more a state and local problem than a federal one. [103 words]LyleMay 27, 2010 18:03
you are correct- Pete Peterson has been forthright but not on this [111 words]artMay 27, 2010 11:34

Comment on this item

Mark my comment as a response to Note that the pension problem is more a state and local problem than a federal one. by Lyle

Email me if someone replies to my comment

Note: Comments are moderated by the editor and are subject to editing.