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Old 01-24-2016, 05:14 PM
 
34,068 posts, read 17,096,341 times
Reputation: 17215

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Quote:
Originally Posted by JayCT View Post
Changing to a 401k pension plan is possible for future employees but the state can't change what is being offered to current employees. There are contracts in place. Declaring bankruptcy is not easy. Remember that Bridgeport tried and failed. Jay.


However Jay 6,000 pink slips could have been used to get the union to agree to renegotiate the contract at that time. That is what I was saying. Pink slips are leverage.


And yes Jay, employees are switched all the time. My last employer negotiated with its union (and layoff qty was a factor) to freeze pensions in place and switch to 401k funding after that point in time, for CURRENT employees. Future emps got 401k only.


You cannot take what is vested, but you can halt adding to it by negotiating freezing pensions as is. With current workers.

 
Old 01-24-2016, 07:35 PM
 
2,366 posts, read 2,189,053 times
Reputation: 1379
Bob,

You do realize what you're saying is bone the current employees for a gimmick invented by GOP governors?? Whitman blazed this trail after all.

The employees took the lower pay for better benefits that the pols didn't fund. How in any way is that the employees problem?
 
Old 01-24-2016, 07:56 PM
 
34,068 posts, read 17,096,341 times
Reputation: 17215
Quote:
Originally Posted by Beeker2211 View Post
Bob,

You do realize what you're saying is bone the current employees for a gimmick invented by GOP governors?? Whitman blazed this trail after all.

The employees took the lower pay for better benefits that the pols didn't fund. How in any way is that the employees problem?

The pay has risen considerably since then, pretty much to Fair Market Value, and still with oversized benefits.


The legacy costs are not sustainable; Illinois will be the first to implode over it. Ct should proactively fix their problem, and DM had the weapon to make it occur.
 
Old 01-25-2016, 06:23 AM
 
Location: CT
720 posts, read 920,444 times
Reputation: 449
Default CT has second highest concentration of millionaires

CT has second highest concentration of millionaires | HartfordBusiness.com


Nice..
 
Old 01-25-2016, 06:30 AM
 
2,005 posts, read 2,089,857 times
Reputation: 1513
Not surprising...
 
Old 01-25-2016, 06:37 AM
 
2,695 posts, read 3,492,279 times
Reputation: 1652
This means nothing.
 
Old 01-25-2016, 07:20 AM
 
21,630 posts, read 31,231,833 times
Reputation: 9809
Quote:
Originally Posted by Mr_250 View Post
This means nothing.
Of course it does. It means CT is a wealthy state. Try not to be so negative.
 
Old 01-25-2016, 07:29 AM
 
Location: Connecticut
34,948 posts, read 56,989,667 times
Reputation: 11229
Quote:
Originally Posted by BobNJ1960 View Post
However Jay 6,000 pink slips could have been used to get the union to agree to renegotiate the contract at that time. That is what I was saying. Pink slips are leverage.


And yes Jay, employees are switched all the time. My last employer negotiated with its union (and layoff qty was a factor) to freeze pensions in place and switch to 401k funding after that point in time, for CURRENT employees. Future emps got 401k only.


You cannot take what is vested, but you can halt adding to it by negotiating freezing pensions as is. With current workers.
Yes but what Hartford_renter was proposing was retroactive which cannot be changed. Again, I am not sure where you get 6,000 layoffs from. It was 4,500 layoffs last fall and I guess the reason it was dropped had something to do with previous commitments the state made with workers during the last contract negotiations. I believe the state agreed to no layoffs in exchange for significant concessions. Jay
 
Old 01-25-2016, 07:38 AM
 
Location: Connecticut
34,948 posts, read 56,989,667 times
Reputation: 11229
This was posted already in the Economic Climate thread so I am going to merge it into that one. JayCT, Moderator
 
Old 01-25-2016, 09:23 AM
 
Location: Albuquerque
1,899 posts, read 3,511,299 times
Reputation: 1283
New Mexico has a high percentage (maybe the highest?) of PhDs. That doesn't mean the average New Mexican is highly educated.
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