With public sector pension plans rocketing out of control, states and localities flirting with bankruptcy, Medicare, Medicaid, and social security burdens escalating out of reach, the president can only say, lamely, that he does not «agree with all the proposals» of the Fiscal Commission he appointed, leaving it to his audience to guess what items in their package he likes.
Membership
in public sector pension plans increased by 16,500 to 3,229,000, while the number of members in private sector plans fell by 11,600 to 3,032,000.
The government claims that its changes will not affect the
core public sector pension plans, under the Public Service Superannuation Act, the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act.
Purging Redford era cabinet ministers, selling the government's fleet of aircraft, keeping the Michener Centre open, backing down from controversial changes to
public sector pension plans and cancelling the botched license plate redesign were all no - brainers, but they projected an image of the new premier as a competent chief executive in command.
And unlike
a public sector pension plan, which is protected by the state constitution and whose benefits can't be diminished even in an economic crisis, the retirement savings plan the city is proposing would be very much subject to the vagaries of the market.
More generally, we demonstrate the utility of using structural retirement models to analyze fiscal and workforce effects of changes to
public sector pension plans, since the effects of pension reforms cumulate over many years.
The Canada Pension Plan (CPP) is more costly than five
public sector pension plans, according to a new report by the Fraser Institute.