CA SUPREME COURT TO CUT UNION PENSIONS: PEOPLE’S MONEY GONE, PROTECT UNION LEADERS, POLITICIANS

Posted on October 21, 2016

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Breitbart: “A three-judge California Appellate Court ruling in August declared that public employee retirement plans were not “immutable,” because employees only required a “reasonable” pension. The ruling was a shock to unions that have been able to sustain public pension spikes, even if they put cities like San Bernardino in bankruptcy.”

The appeal now before the California Supreme Court could have an impact that reverberates across the nation. Prior court rulings created what is referred to as the “California Rule,” which guaranteed government workers the pension that was in place on the day they were first hired.
As a result, this “first-in, always-in” precedent legally perpetuated a California government system that is wildly insolvent to the tune of $484.2 billion. That works out to a stunning debt of about $77,700 for every household in the state, according to the Stanford Institute for Economic Policy Research
.”

It was always the politicians, union negotiators, union seniority, and the people’s money. That is no different than DC politics.

In this case, the unions, when the people’s money runs out so too do the benefits of lower level union seniority members on up. Again, no different than the people who elect DC politicians.

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Breitbart: California Supreme Court Set to Slash Public Pension Benefits

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Posted in: News, Politics