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Detailed text transcripts for TV channel - FOXNEWS - 20111228:21:35:00

Pensions, in general, where in the private sector we have moved to where only 20 percent of businesses, private sector employees have pensions they have moved into define contribution 401(k) type plans or they have nothing at all. and the public is exactly reverse, 80 percent get a public pension and we have to move the public sector into the 401(k) system with defined contribution. dagen: but the idea of basically buying, retiring early, and buying years and getting a pay off well in excess of what you actually had to pay for those years, that is a public pension on drugs. this is most insane. guest: governor jerry brown is saying it should be barred. why does it exist if any state? guest: well, ironically some states did it because they thought they would buy out lows to move them out early and bring in state employees who cost less ....

Type Plans , State Of Florida , Jerry Brown , State Employees ,

Detailed text transcripts for TV channel - FOXNEWS - 20101220:15:34:00

Bill: if you declare bankruptcy the contracts become null and void and you have to renegotiate. that s right and then, what you need, what these city officials and governors have to do is convert these pension plans into 401k type plans and the workers and the cities and the states put money in, and it accumulates over time, but you will not give these workers, these really generous, defined benefit plans that are unaffordable. bill: the new york census bureau, a report out, retirees in the private sector get an annual benefit salary of $13,000. a state or local government retiree it is more than $27,000. that is twice, just in new york. those numbers are low to me. i have seen, states like ohio, illinois, california, bill, for, say, teachers who worked 25, 28 years on the job, who are maybe 55 years old, can retire with pensions as high as $100,000 a year. bill: that may be the case, if ....

Last Christmas , Pension Plans , Type Plans , City Officials , New York , Benefit Plans , Money In , Census Bureau , Benefit Salary , Southern California , Bill Bell ,

Detailed text transcripts for TV channel - FOXNEWS - 20100929:20:27:00

Chuckles. listen to this. jerry brown in charge of negotiating with labor unions, on pensions and how many people we have in the state government is like putting dracula in front of the blood bank, the fact is, nothing will get ton. neil: that was clever but the governor responded that you did an about face on whether you require all state workers to sign up for 401(k) type plans where they could contribute to retirement and it is a fixed benefit coming in the state and you can be cowed. how do you respond? guest: he is wrong. there are two kinds of employees that report to the governor. public safety and rank and file civil service. for public safety i want the retirement age to go from 50, to 55. and i want extension of vesting time and the mes to pay more into the retirement. ....

State Government , Labor Unions , Blood Bank , Jerry Brown , Neil Cavuto , Type Plans , State Workers , Retirement Age , Public Safety , Rank And File ,