FACT CHECK: Are taxpayers the ones who foot the bill for public workers’ pensions?
In a word, no. The modest amount the average public worker takes home is covered largely through investment returns–not the emptying of taxpayers’ pockets. Public employees themselves contribute an average of 40 percent of non-investment contributions to their own retirement. (See Pew Report, page 10)
For the low price of $39.50, VSEA members receive:
Free Parking
Buffet Picnic Luncheon
All-Day Ride Pass
“Anybody who retired in 2008 or 2009 can tell you if you have the misfortune of retiring when the market tanks, you’re out of luck on a defined contribution plan,” [VSEA Second VP Jeff] Briggs said.
Related Story: Ex-Pension Chief Resigns & Calls 401Ks "a failed experiment."
"When this first started coming to light, the health issues with state employees, if it wasn’t for you folks, we wouldn’t have done what we did," [said Rep. Alice Emmons]. You looked out for each other, you cared about your colleagues. If it wasn’t for the determination and the caring of your colleagues, I don’t know where we would be, because that really put the pressure on us as legislators to really look at this building and do the right thing. There were different feelings about what the right thing was, but ultimately we decided to stay here and build a state-of-the-art building."
In an e-mail this morning to all Bennington employees, VSEA President John Reese wrote, "This most recent cancellation marks the fourth time the State has delayed this ceremony, and VSEA thinks enough is enough, therefore we are going ahead with our plans to hold a barbeque luncheon on May 9 for all Bennington employees."
VSEA visited the new building yesterday and it is beautiful. Employees are actually already in their new digs. They moved in on April 23, or the date of the State’s original grand opening ceremony.