This Bloomberg article captures the growing worry about state pension promises, and the resistance to reforming them, such is evident on the streets of France. In the U.S., we call these benefits Social Security, and efforts to contain its taxpayer cost are said to touch the political “third rail.” The authors here speculate that only the privileged will someday enjoy their retirements. Will this include government employees? In a new article at Discourse Magazine, I discuss the threat even to these paydays posed by unfunded plans at the state and local levels. Too much is being expected in most places, and too little is being contributed. It’s time to be “thinking about tomorrow.”
How a Good Retirement Risks Becoming Just for the Privileged
Popular discontent with the idea of having to work for longer is building as state pensions feel the strain.
Tim W. Ferguson 