09-21-2010, 01:51 AM
Employee benefits. The City of Sarasota is faced with an unfunded pension liability of $130 million dollars. That is money that will be coming out of the pockets of taxpayers of today and tomorrow for services rendered yesterday. Sorry folks but someone needs to say it – we have to change the benefits package given government employees. Based upon the City of Sarasota’s own estimate by the year 2010 health care costs will be 41% for active City employees, 59% for retirees. At a time when government salaries and benefits in local government are better than the private sector, isn’t it time that we ask - can we afford it? Should we not move from a non-contributory pension system to a 401-K type of plan for all government employees, while freezing current plans? Can we afford such liberal health insurance benefits for all retirees and their dependents? When taxpayers are losing their homes and their jobs and government revenues are sliding, it is time that the largest cost of government - salaries and benefits - be examined and changed to reflect the realities of the current situation.
Click here (http://www.argusfoundation.org/Taxation.doc) to read the full story.
Click here (http://www.argusfoundation.org/Taxation.doc) to read the full story.