"Retirement benefits for Utah's public employees could be in jeopardy without 'increased contributions' from the state to make up for an overly optimistic rate of return on investments..." ("Audit questions long-term viability of state pension fund," Feb. 26). My temperature is hot and my blood is on fire to think my tax dollars go to pay for pension funds for state employees, let alone guarantee a rate of return promised by our leaders for "overly optimistic" guesses of what we are paying in.
No tax dollars has ever paid for any of my investments, let alone guarantee them. The public should be outraged. State pensioners should be responsible for the gamble just like regular citizens are. When things are good we win. When things go bad we lose... there are no guarantees.
Ralph Olson
Bountiful
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Ok, don't guarantee the pension, but then the state would have to increase employee pay, something similar to what they could be getting in the private sector.
State employees are underpaid, compared to the private sector, and one of the More..
No, no one pays for our investments. But defined benefit plan pensions are part of a pay contract in which the employer promises so much now and so much later. The employee works under that promise. If the employer wants to change the contract, More..
To those like Joe Capitalist who don't know anything about retirement pension rates in Utah:
Most retirees receive, as their pension, 2% of their salary for each year of service. The person who works for the state for 20 years would More..