Quote:
Originally Posted by SLO
In more ways than just that. The entire pension programs should be looked at perhaps changed to more of 401k type plan.
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Public employees such as myself ARE on a deferred comp plan like a 401k. It's called a 457b.. It was introduced Day 1 of working for the government and I was able to roll over my 401k from my previous employer (private company). But we're still required to pay into the pension. My share is around 6.5% gross pay per paycheck. Whether the pension is there or not in the future is up in the air. But my contribution is low compared to other governments which require upwards of 10.5% contribution