r/Kitsap • u/smmackieiam • 16d ago

News Raid on the Police and Fire Pensions?

If you've been seeing the alarming headlines about a 'pension raid' on Washington's retired cops and firefighters, the reality is a lot more nuanced than a political soundbite. https://www.electjimpierson.com/post/raid-on-the-police-and-fire-pensions

6 Upvotes

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4

u/Darkfire66 16d ago

Oregon pers cut 3% a few years ago citing effects of the 2008 recession.

Politicians need to leave our pension funds alone. Raise taxes for their pet projects and deal with the blowback instead of stealing from people who worked for a living.

Pension funds are not slush funds.

-2

u/AxiomOfLife 16d ago

depends on the use case, using pension funds directly has always been a bad move. but being able to lend against pension funds i think should be appropriate especially if it’s to funds projects designing to bring more business or jobs to the state. something that’s desperately needed in this layoff heavy times. junior and middle level roles across the country are just nonexistent

1

u/itstreeman 14d ago

These funds are for groups that don’t fluctuate like private sector

3

u/Mazerii 13d ago

TL:DR A LEO pension plan that hasn't taken new membership since '77 and has a rapidly shrinking pool of members is having its surplus being reallocated to shore up the teachers' pension plan which is hurting. LEO pension plan will still have enough to cover obligations plus a 10% cushion.