20% is really 10% .... plus catch-up funds TEMPORARILY paid to cover past UNDERFUNDING of State obligations to PERA. (How quickly you forget that YOU already got the benefit of deferring payment on YOUR bills.)

At some point, math is math. Taxpayers are on the hook to finance benefits tomorrow unless they pay today AND make up the past years when they deferred payment. In other words: pay today or pay tomorrow.

Making yourself into a "righteous" victim(!) is what is ridiculous. Because the employer is the government, they (a/k/a, you) decided to not pay their bills in some years so they could take a Hawaiian vacation and buy a new car (a/k/a, budget for other things, avoid raising tax revenues).

To paraphrase Reagan, the State's attitude toward their employees is: what's mine is mine; what's yours is negotiable. That's not a sustainable attitude. (It's also immoral.)

Labels: moderation: safe