Monday, January 16, 2006

 

USATODAY.com - Public workers' pensions swelling

The portion of the private workforce enrolled in plans that pay monthly benefits for life has fallen from 39% in 1980 to 18% in 2004, according to the Employee Benefit Research Institute. By comparison, more than 90% of government workers are covered by such plans, the Bureau of Labor Statistics says. Unlike private companies, most state and local governments cannot reduce pension benefits for existing workers or retirees.

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