The in box. “A horrible mistake is being made.” « Fred Klonsky

14 Aug

Fred,

A horrible mistake is being made by We Are One, IEA, IFT, etc.Everyone wants to seem reasonable and present a reasonable public image. The danger is in offering what seems reasonable while the offer itself has unintended disastrous consequences.

4. With a guarantee that the state would pay its portion, the members who are reliant on the pension systems for their retirement security, would offer to help the state by paying more even though they have contributed their portion over the years. This increase may differ for the various pension plans.

This is a successful, common, legal trap used by lawyers for over a decade. Once a retiree accepts a different pension plan, no matter how minor the change, the one providing the pension is legally recognized as having the right to alter the new pension plan in any way it deems necessary. All past plans are null and void. Courts have decided on this repeatedly. More…

via The in box. “A horrible mistake is being made.” « Fred Klonsky.

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