Public pensions are contractual obligations to pay employees retirement benefits as partial compensation for their work. Biggs says public pensions are often much higher than private pensions, and the important thing is to make changes to the amount of benefits earned going forward.
Kreisberg scolds Detroit and Illinois for backing out on paying pensions at the same time the state was giving tax breaks to private corporations.
Learn more about some of the problems that face public pensions in Detroit and other cities.
What kinds of signals should this send to Mississippi for its public pensions? Is the state taking enough precautions to be able to follow through on its promises?
>>Source: Biggs, Andrew G. “Pension battle: Biggs on PBS’ ‘Newshour’.” American Enterprise Institute. 4 Dec. 2013.