(Lake Placid Specific)
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Updated 2/16/2011
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(Lake Placid Specific)
1 messages
Updated 2/16/2011
Lakes Online Forum
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Name:
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PTClakefan
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Subject:
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pensions
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Date:
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7/15/2020 8:57:34 PM
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That problem is not unique to those cities. Underfunded pensions, both public and private industry are a big problem nationwide. In some cities, monthly individual pension payments for police, firefighters, teachers, etc. can equal or exceed the amounts the pensioner would make if he/she were still working full time. It is somewhat akin to a ponzi scheme; it works for a while, until it doesn't and then bad things happen.
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