re: It's happening. Washington is the first state to terminate a public employee pension plan!

I didn’t ask you to post shite.

I don’t care who you are.

I just pointed out that you just make shite up.

Are you drinking too much pink wine?

You made this up whole cloth.

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what do you do to give back? hint - nothing

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So I most certainly pointed it out that you did that.

You don’t know shite about me or anyone else here. Super smart radical leftists are my favorite.

where did you point out me making shite up?
are you intoxicated?
i've been sober for years
you seem unhinged

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Well that’s just not true but like so many here you just make shite up.

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Pointed out. Weirdo.

Now you two make a cute couple.

A radical leftist and a Trump worshipper.

Takes all kinds.

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Trump worshipper.

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Am I reading it correctly that just took the retirement from what I would assume is hundreds of thousands of retires?

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No. They took nothing. The state is obligated to pay those pensions whether the plan is 200% funded or unfunded.

This happens to be the only overfunded retirement plan in the universe and it’s apparently making people crazy.

Democrat rule, wonder how many liberals this affects dems dont give a shite about their foot soldiers either, when the left finally understands this maybe we can get the country back on track to be great again

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I admit I didn't read the link.

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I don't think most people in the thread did, and I don't think most people in this thread understand how defined benefit pension plans work.

This plan was over funded, i.e. it had more assets in it than it needed to pay the benefits promised to workers covered by the plan. According to Grok, this plan pays benefits to employees hired before 1977. There are about 5 people still accruing benefits, and about 6,000 retirees covered by this plan. The state terminated it so they could blow the surplus on something else. All members in the plan will receive the benefits they were promised. This used to happen in the private sector all the time. One company would take over another, sometimes even a shite business, because it had an overfunded pension and the acquiring company could keep the surplus. This is why Gekko wanted to buy Blue Star airlines in the movie Wall Street.

If you're conservative you should want the government to terminate an overfunded plan. Otherwise, you've got a chunk of money, much of which was funded by taxpayers, just sitting there. At some point the last beneficiary dies and there's a pile of money left over. Why not use that money for something else and give taxpayers a small break? I'm sure Washington will blow it on something stupid, but still, in theory, it's the right thing to do.