The capacity to abuse things like overtime to pump up the benefit is a clear demonstration of the incompetence of the government to create sensible pension rules. There have been movements across the country to address these issues but if they are town related it may never happen. The fact is that many of these issues are being addressed and have been addressed but we still have plenty of people that were grandfathered into old systems. I don't have a pension that is even remotely close to that but my old boss who started working a long time ago has a pretty crazy good one. Our job doesn't lend itself to overtime abuse stuff though.
It is mostly the people that would be hired now that will have reformed pensions. It is also mostly teachers, cops, and correction officers that work for the state and local governments.
Every state should switch to a pension that is more or less a defined contribution plan. It addresses most issues associated with current defined benefit plans.
Also the whole "his wife will get it too" thing is not a big deal. Basically all pension from that era have options which allow the beneficiary to choose that option. When buying annuity there is generally an option like that.
It is also hilarious to see people complain about what amounts to retirement savings. The problems with income inequality are with people who receive millions each year in capital gains.
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ou're a weird dude, Tenkly. Knife fights with women and you dress your cat up in sweater vests."- ZigmundZag
