To the Editor:
Not sure what the purpose of the July 26 article on public employee pensions was, but it brought to light the utter stupidity of the program. Whoever thought it was a good idea to pay people not to work for you? And whoever thought it could work to have someone work for 20 years and get paid for the rest of their life? There is a reason why most private sector businesses don’t offer defined benefit pension plans. It’s because they don’t work. After a while, you end up with more people being paid not to work than you have workers, and it doesn’t take a genius to figure out how that ends.
Continuing with the oxymoron that is government logic, instead of taking advantage of the experience and training of older employees, the system incentivizes them to retire at 50 years old when they have the most to offer. So the public loses both ways.
So here’s the solution. Put all government workers on their own individual 401(k) or IRA plan. Let their employer, us, match their contribution up to 3 percent of their salary, and then, whenever they choose to retire, stop paying them, and let them take their account with them and do with it as they please.
Scott R. Siman