PinOakEO Loc: NA

Going into bankruptcy?

phlash46 Loc: Westchester County, New York

Possibly. More irresponsible politicians promising terrific pensions to public employees and then not putting sufficient money aside because they should have known they couldn't.

mas24 Loc: Southern CA

The City of Dallas going into bankruptcy, or you?

PinOakEO Loc: NA

Dallas

PinOakEO Loc: NA

Pension problems!

jerryc41 Loc: Catskill Mts of NY

Right. They always blame it on the working people.

phlash46 Loc: Westchester County, New York

You've missed the point! It's not the cops, teachers and firemen that are to blame. It's the people (politicians) who caved in and offered deals they couldn't pay for and then underfunded to cover their asses that are to blame.

buckbrush Loc: Texas then Southwest Oregon

This is a very controversial topic. My experience is that people have learned to game the retirement system and because the politicians are also part of the same system, nothing will change without a massive rethink of how retirement systems are managed or a bankruptcy occurs as in the case of Dallas, TX. The retirement system was originally designed properly but the fact you have supervisors, managers, politicians thinking of ways to benefits themselves make it doomed to fail.

I think most retirement systems started out to give a decent retirement to all the workers. Then many people saw how other workers were getting massive increases in benefits by saving up their vacation and sick days and tacking all that extra time onto their base pay. Retirement pay for police, fire, and virtually all state workers is based on the last three years of their work. So workers started to jam all their saved vacation time, sick time, etc. that they have saved up (sometimes for over 5 years time), into the last three years for a retirement basis, this will cause the retirees to increase their retirement pay by sometimes over 50 percent.
The problem comes down to management not wanting to upset the wonderful system that every retiree is gaming because in a few years they (managers) will game the same system to increase their retirement.
Here in Oregon even the politicians, judges, etc. are part of the same retirement system so it will never be corrected and Oregon will go bankrupt just like Dallas. There is no way our politicians will vote to decrease their own retirement....even tho, many retirees are getting paid more than 100% of the salary they made while working.

phlash46 Loc: Westchester County, New York

Sad but true

canarywood1 Loc: Sarasota,Florida

Probably modeled on the federal system.

dljen Loc: Central PA

Since you brought up Dallas, know what today is? I thought this was what you meant at first...

PinOakEO Loc: NA

Read that in last 10 days that 99 Police quit or retired from Dallas, Texas PD!

PinOakEO Loc: NA

They all wanted to play in TV series "Chicago P.D."

The get paid better in TV!