Sweetheart Pensions
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In the Feb. 22 article, “States’ Private Pensions Make a Weak Showing,” bashing Social Security reform, The Times details how government workers in several states shun private accounts in favor of their existing pension plans. One reason for this is that state worker pensions are outrageously generous.
In L.A. County, for example, public workers can retire at age 60 with pensions substantially higher than their final month’s pay. Who would gamble with anything, given a sweetheart deal like that? Comparing state workers’ pension choices with Social Security is disingenuous at best.
Kevin Murphy
Los Angeles
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