More imbalance in the Private/public worker sectors. Seen any news articles about public worker pension freezes? We’d sure like to hear about them
A USA Today article says companies that have frozen their traditional (defined benefit) plans has accelerated sharply this year. Wells Fargo told their workers they will stop accruing benefits July 1.
The future prospects for private sector workers to have any sort of livable retirement is dim. Once they learn that public sector workers get to keep all of their plans at taxpayer expense they might be inclined to: 1.) vote their minds, or 2.) protest vehemently.
At the moment there is little news or public outcry concerning the vast divide between private and public employees. That needs to change.