I appreciate the fact that you have been so involved in this issue as it is one of the largest fiscal issues facing Massachusetts and the rest of the Country. Any reforms in this area however cannot simply be stopping the continued growth of pay and benefits in the public sector but actually reversing them. …
Public/Private Comparisons
Public/Private Benefits Comparisons
Given the controversy about public employee benefits, it is important to get a clear picture of how public retirement benefits compare to private retirement benefits. In a nutshell, they are much richer.
Pensions – Public and Private
There’s a thoughtful discussion on On Point today about how to handle guaranteed pensions in the face of economic volatility: http://www.onpointradio.org/2010/07/pension-crisis They touch on pensions’ contributions towards budget deficits, how some public employees game their respective systems, and how public salaries differ from private salaries. It’s worth a listen if you’re interested in the issue.
State employee health insurance premiums
Like roughly 80% of Massachusetts workers, public employees receive health insurance as part of their compensation. The issue of how much active employees should contribute to the cost of that insurance has been controversial in every recent budget season. Since the cost of public employee health insurance is just under $1 billion, the employee share …
Health benefit comparisons
Most state and local government full-time workers are entitled to health benefits in Massachusetts with employee contributions often under 20%.
Private sector pension crisis
Problems in the public sector system mirror problems in the social security system.