Issue Position: Pension for People Not Politicians

Issue Position

A modest pension is an important part of a good retirement"

REAL PENSION SOLUTIONS THAT PROTECT WORKING PEOPLE

Today, there is a lot of talk that cutting public pensions for working people is the solution to our economic woes. Working people aren't the ones abusing the pension system. The top ten pensions in the state are worth more than 3.5 million dollars. Just one of those pensions makes up ten pensions for the average city, county, or state worker. That's just wrong!

Here are some real solutions:

We need to cap state pensions at $100,000 a year. The average state pensions is just over $40,000 a year. The real motivation should be to help and serve people, not a six figure pension plan.

Pensions should not be floated on the stock market--it's too risky. So-called pension reformers aren't telling us that governments are often overburdened with pension obligations due to risky pension investment strategies causing pension funds to decrease. That may help make money managers rich but it hurts working and middle class people. We need to ban risky pension strategies and only allow pension funds to be put into low risk/low yield devices like municipal bonds and treasury bills.

Make mandatory thorough audits of all agencies and governments retirement obligations before any changes can be proposed.

THE PEOPLE KNOW BETTER:

Here is a great article detailing the fact that Californians are much smarter than their lawmakers. They don't blame police, firemen and public employees for the pensions problem. They put the blame where it should be with misguided politicians.

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