Changes to FW Pensions
All the politicians in Fort Worth (and in the country) are going to be agonizing over the promises made for pensions which are tough to fulfill when the city’s revenues are dropping.
One major change that FW should consider is the age of retirement. The theory for a good retirement package is to attract the best people to run our city. But if a generous package offers retirement at age 55, then we are encouraging experienced people to quit early, just when they are getting to their peak of performance. Just when they could do the most for our city.
This is not to criticize those who have taken advantage of this in the past. It makes no sense for anyone to stay on a job when he/she could retire, continue to receive the same check as before, go on to play in a band or find another job and earn a second income.
We can’t reverse what has been promised to present employees but for new hires the retirement age should be set at the same as Social Security.
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