Here's a Thought.. wrote:
Wonderful idea, are you forgetting those tiers were agreed upon contracts? Long before the banks defrauded the world of all their monies, these were and still are binding contracts. Why not go after the mortgage fraud bankers who plundered the retirement system to the tune of 25 billion dollars?
All through colluded, (not worthy), triple A ratings, Unsuspecting fund managers, (DiNapoli), bought these fraud laden vehicles as safe investments...
Why not wring the cash from these criminal bankers and when finished retrieving our monies, jail these criminals?
People chose careers based on Civil service promises, they did without bonuses, expense accounts etc, and the other perks non civil service personnel enjoyed. The tides changed, either correct the illness , (the banks), or make future corrections, tier 6, new employees.
Reneging on yesterdays promises is morally wrong.
Contracts can be renegotiated can't they? Tell me who were the people involved in negotiating these contracts anyway? Did the taxpayer have a say? Don't think so..Many people lost money in their 401 plans when the s h i t hit the fan did anyone come in, and rescue them for the hundred of thousands they lost in their plans? Find the people on the fraud side and prosecute them to the fullest I am all for it, but we can not afford the pension and other bene's that were promised back then TODAY..Is it right for the for the person that lost thousands in their 401, and now have to pay more in taxes to supplement the TRS or other state plans? My answer is no Fnnn way..Suffolk goes from 100 mil to close to 200 mil just in 1 year for retirement and other bene plans that are out of control...Keep going down this road, and maybe we will file for bankruptcy, and then everything gets to be renegotiated