Regional Vice President of Sales The Retirement Plan Company
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Compass
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Loan & Distribution Specialist AimPoint Pension
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Bates & Company, Inc.
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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On Public Pension Reform, Politicians Can't Fix Pension Abuses with Voting Rules Alone
Governing [Opinion] Apr. 20, 2012 "[It] should be illegal by statute or constitution -- whatever is necessary -- to award retroactive pension and retiree medical benefits or benefits increases ... [and] state laws must be changed to provide that ... any increase in a retirement plan benefit can be subsequently rescinded or modified downward with respect to future service.... If these two essential reforms are not included in the legislative package, it doesn't matter whether the voting rule requires a majority or a supermajority ... In many instances, a powerful union can push through a benefits increase with supermajority votes, so the voting rule is really just shuffling the deck chairs on the Titanic." |
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