Richard Mulholland: Public pensions created all this government ‘poverty’

The adoption of SB 400 in 1999 ushered in an era of dramatic pension increases, which was meant for public safety employees but soon trickled down to the rank and file of state, county and city workers who felt they were entitled to the same pension rules and rewards. We, the taxpayer, are on the hook for the shortfall on these pensions. Those who do not work for the government should not be forced to pay for ever-richer benefits for public employees while they are seeing their own retirement funds erode during difficult economic times. Yet we, the taxpayers, are expected to aid in this deficit?

Seems more of the general fund for the city continues to shift to help failing pensions and their shortfalls, while the citizens are asked to vote an increase in sales tax for the general fund, purportedly to increase public-safety spending. Seems in years past, prior to the huge retirement pensions, we managed very well. Maybe it’s time to reduce pensions.

This story was originally published September 18, 2015 at 8:49 AM with the headline "Richard Mulholland: Public pensions created all this government ‘poverty’."