http://blogs.reuters.com/muniland/2012/04/10/state-and-local-government-hiring-will-never-recover/ Bridges, budgets, bonds Fri, 24 May 2013 15:47:05 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/muniland/2012/04/10/state-and-local-government-hiring-will-never-recover/comment-page-1/#comment-1026 RNelson Mon, 11 Jun 2012 12:28:08 +0000 http://blogs.reuters.com/muniland/?p=8947#comment-1026 Current post-employment benefit system for public employees is unsustainable and the pubic is just waking up to the fact that reform is needed. San Diego and San Jose proved that voters are eager to put these benefits back in line with those offered in the private sector. Expect more votes like this across the country as state/municipal finances continue to strain under the weight of promises made to retirees. 401k retirement plans for new public employees will be the new normal, and in many cases where pensions are severely underfunded expect pension obligations to be restructured. Current post-employment benefit system for public employees is unsustainable and the pubic is just waking up to the fact that reform is needed. San Diego and San Jose proved that voters are eager to put these benefits back in line with those offered in the private sector. Expect more votes like this across the country as state/municipal finances continue to strain under the weight of promises made to retirees. 401k retirement plans for new public employees will be the new normal, and in many cases where pensions are severely underfunded expect pension obligations to be restructured.

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