Monday, August 28, 2017

Bevin plans to rob workers of their pensions

It's been obvious for a long time now that Kentucky's pension "crisis" is a hoax whipped up by the Far Right as an excuse to rob state workers of their pension money.

Now an "independent" firm hired by the scandal-tainted Matt Bevin administration has recommended broad changes to Kentucky's pension system to do just that. The PFM Group recommends that pensions be abolished for future government workers and be replaced with a 401(k) plan that lets investors gamble with their money. PFM also recommended increasing the retirement age for state employees and taking back all cost-of-living increases from 1996 to 2012 for retired workers. Even retired teachers would see all cost-of-living raises frozen.

This is commonly known as theft.

In Bevin's America, a promise made is a promise broken.


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