Michigan leads effort to shift workers away from pensions

[WSFirst]

http://www.seattletimes.com/business...from-pensions/

Michigan gets it, when will New York?

[jennifer7]

http://www.seattletimes.com/business...from-pensions/

michigan gets it, when will new york?

bingo !!!!!! That's what destroyed wny and yet with 45 years of doing this, it's still business as usual because,
didn't your hear, their's rebirth, a renaissance is going on, every one has buffalo love, and were one buffalo,
even the rest of country is taking notice and impressed, thier right about one thing, the rest of country is taking notice,
but thier not impressed and it's the total opposite. Buffalo ny is alway's reffered to as bad as it gets and just about every stat, subject, weather, image, economy political corruption, welfare, no jobs, heavy unionized, where time has stopped in 1970, going backwards , lack of public safety, bad hospitals, super insane high taxes, Red tape/regulations, super high utility bills, infrasture, even sports team & now the muslim capital of the usa, But what else would expected from people voting yes to raise their property taxes $2,000 just to make it to 2019 to peserve Village Life, Depew is dying & decaying, so I don't see were they say Depew has a Life or a future, except to keep on raising taxes every year just like they having been doing for the last 20 years in row

[WSFirst]

NY Teamsters' Pension Collapses

“I had a union job for 30 years,” Chmil said. “We had collectively bargained contracts that promised us a pension. I paid into it with every paycheck. Everyone told us, ‘Don’t worry, you have a union job, your pension is guaranteed.’ Well, so much for that.

How many former union employees in the next few years will say "but we have a contract!" when pensions collapse?

[leftWNYbecauseofBS]

NY Teamsters' Pension Collapses

“I had a union job for 30 years,” Chmil said. “We had collectively bargained contracts that promised us a pension. I paid into it with every paycheck. Everyone told us, ‘Don’t worry, you have a union job, your pension is guaranteed.’ Well, so much for that.

How many former union employees in the next few years will say "but we have a contract!" when pensions collapse?

I wonder how much they actually paid in to the pension compared to how much they were expecting to get out. But to be clear...not everyone told them that. People have been calling pensions unsustainable for over 50 years.

[WNYresident]

Speaking of retirements... anyone peek at the market today?

[WSFirst]

I wonder how much they actually paid in to the pension compared to how much they were expecting to get out. But to be clear...not everyone told them that. People have been calling pensions unsustainable for over 50 years.

I think they're finally running out of money. The average age expectancy has increased about 12 years since the 1960s. Let's say 12 years x $50k/year = $600k extra they need to fork-out.