Teachers, students and parents are protesting across the United States for higher wages for educators and better funding for public education. While not always a central part of this protest, public pensions deserve to be part of the conversation, writes Tyler Bond for The Hill.
“Public pensions are an investment in the public sector workforce. They come with a simple promise that for every year a public employee works serving their community, their employer will contribute toward their retirement,” he writes.
“At the end of their career, public employees will have the security and reliability of a defined benefit pension waiting for them. They have earned this part of their compensation over the years and contributed to it themselves out of each and every paycheck. Pensions are an explicit part of the deal when they become public servants.”
Politicians, he continues, have not always held up their end of the deal, reneging on the pension promise by skipping or deferring payments, leading to unfunded liabilities. And, writes Bond, it’s even worse than it sounds.
More: Past decade has seen an increase of attacks on public pensions.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapension

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