LETTER: Public pension problem requires tough change
The Review-Journal’s Nov. 2 editorial properly addressed the public pension issues that infect California and the entire country. Without getting into the fine details, this problem can be greatly reduced by eliminating pensions for public employees and easing into 401(k) plans. Hence, when individuals retire, they have their funds and the obligation to the taxpayer ceases.
California, Los Angeles County and the city of Los Angeles are already virtually bankrupt due to the forthcoming pension obligations. It is only a matter of time that Nevada and other states will be in the same situation.
I understand it is the position of public employee unions to defend their members, but let’s be realistic. There are times in which we need to be fair to all parties, because this policy has a substantial negative financial effect on the population as a whole.