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| Re: Never Mind, King Cuomo II Got His Tier 6 (944574) | |||
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Re: Never Mind, King Cuomo II Got His Tier 6 |
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Posted by SLRT on Thu May 24 16:02:57 2012, in response to Re: Never Mind, King Cuomo II Got His Tier 6, posted by bingbong on Thu May 24 15:41:02 2012. Well, without arguing your point who did this because of that, etc. etc. there is one big difference between a pension plan of the type New York has and Social Security.The New York State Pension System is a contractual obligation; this is why they have "Tier this" and "Tier that." The state has a contractual obligation with current participants in the system and there is such a thing as "fiduciary responsibility." Social Security, on the other hand, is a creature of the government. It made me nuts to see people saying "IT'S GUARANTEED"! Nonsense. Your social security "entitlement" is whatever the government says it is. They could eliminate it tomorrow and tell all the pensioners to take a hike. The ONLY thing that stops them is politics. |
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