manateefourmation t1_j6m1bjw wrote on January 31, 2023 at 7:33 AM

Reply to comment by mmmmyeahhlumberg in Mayor Adams plows ahead with plan to privatize health benefits for 250,000 NYC municipal retirees by mowotlarx

Are you serious. Do you appreciate how underpaid public service workers are compared to the private sector? There is a ton of data out there for you to review.

Some companies - VZ, ATT and others still offer traditional pensions on par with what the city is offering. And where there is no traditional pension, most large companies offer 5% 401K matching.

The city benefits actually suck compared to the Fortune 500 world that I spent most of my life in after leaving government.

mmmmyeahhlumberg t1_j6mr31p wrote on January 31, 2023 at 1:02 PM

Wrong. I have family members that have worked in both public and private sectors. The excessive pensions and benefits of public union members are getting phased out more and more every day in the private sector because they are unsustainable over the long term - except when you have a captive source of funds known as taxpayers.

manateefourmation t1_j6nrsf6 wrote on January 31, 2023 at 5:16 PM

I spent 10 years in government before moving to Fortune 100. I watched both systems change. So I’m not disagreeing with you - I said that some big companies still have traditional pensions but the move is to matching 401ks with health insurance at retirement.