This is interesting and true. Thier retirements are not my concern while i worry about my own retirement.

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www.buffalo.com


Rising pension costs have to be reduced

12/8/2003

The Dec. 1 News article, "Pension costs could go from bad to worse," noted that soaring pension costs hit new highs this year for governments and schools in Western New York, calling it a "fiscal nightmare." It seems we are talking about millions of dollars in yearly increases for years to come. This also applies to medical benefits.
As predicted years ago by Ross Perot, NAFTA and GATT have ravished the nation, especially Western New York, and there is no answer to that problem.

Meanwhile, these insane pension costs continue to increase, constantly raising our taxes with no consideration for the private-sector workers and retirees on fixed incomes. This has all been completely ignored by our legislators and politicians at all levels of government because they are part of the problem and indeed the greatest beneficiaries.

While the remaining businesses are reducing their pension and medical benefits to avoid closing, as I have experienced firsthand, there is never any mention of reducing the Cadillac benefits that government and school employees receive. Unless this is given immediate attention, this area will be devastated and there will be no funds to support the lavish living of those supported by the financially exhausted, decreasing number of taxpayers.

JACK STOLL
Lockport