TimRobinsin wrote:
in regards to pensions. Many state employees would never have gone to work for the state had it not been for benefits like this. we made a promise to these people when we hired them as a state, it is our duty to honor this promise.
as for the PFBC budget, it's pretty clear that running the agency is not going to get any cheaper. I think this is an opportunity to implement some creative solutions to solve the fiscal issues and steer the PFBC in a more sustainable direction.
I don't think we should touch existing employee pension benefits. They are a burgeoning financial burden, but the state Supreme Court has already decided that they are guaranteed by the state constitution, so unless someone is able to successfully argue and overturn that decision, good luck in dealing with existing employees and retirees.
But, what you are seeing financially with the PFBC is a microcosm of what is looming for state and local governments that have pensions and which do not reform retirement options for
future employees. Just like Social Security, the current state of pensions is just one big Ponzi scheme and with a shrinking workforce, the unfunded obligations will continue to balloon, because there is just not enough workers paying in to prop the whole thing up. Have a look see at the country of Greece to see how this will all play out in the future, right here in the US of A.
The PFBC only has two options to deal with future shortfalls - increase revenue, or decrease expenses. The pension obligation is fixed or will continue to grow (if not reformed), so cost savings will have to come elsewhere and I don't think there is enough trimming that can occur to offset the pension costs. And there's only so much revenue that can be extracted from increasing licenses and fees.
The only solution is quite frankly to suck it up for the short to medium turn, and get pension reform passed at all the levels it is needed. There will be a huge hurdle to get over until all current employees and retirees who are or will draw a pension pass away. But at least there would be light at the end of the tunnel. As it stands now, legislators just continue to kick the can down the road.
This is not really a trout or license thing. The problems lie much deeper than that. Raising license fees is just a scheme to push the problem down the road for the PFBC.