I know you know about Rhode Island’s public sector employee pension problem, because I’ve posted about it so many times.
But take a look at this chart which shows how household contributions to public sector pensions (state employees and teachers) is expected to climb to just over $2000 per household by 2018 unless there is drastic reform now:
[Material removed at request of Providence Journal]
This is devastating, and will drive people out of the state, continuing the death spiral of fewer and fewer people paying a higher and higher debt burden. As reported by The Providence Journal:
[Material removed at request of Providence Journal]
Guess which public sector employees place the highest per capita burden on taxpayers. Judges. While the overall judicial pension burden is not high relative to the total state burden, judicial pensions are straining the court system budget, with fully 10% allocated to judicial pensions, with many judges retiring on six-figure annual pensions.
Yet the unions are fighting tooth and nail to prevent reform, even obtaining a judicial ruling that they have a contractual right to prevent changes to pensions for employees who are not yet retired but are vested in the system (10 years of service).
It’s so far beyond out of control it’s unimaginable.
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