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NHR: Union Head Questions Pension Consultant

In a letter to the editor in the New Haven Register, Carol Riccio, president of American Federation of State, County and Municipal Employees Local 2863, questions the wisdom of hiring a pension consultant.

 

Rather than hire a pension consultant, town officials should ask its employees what to do about the looming pension crisis.

That's what Carol Riccio, who works for the town and is president of American Federation of State, County and Municipal Employees Local 2863, which represents Town Hall employees and school crossing guards, wrote in a letter to the New Haven Register this week.

The blame for the crisis falls on town officials, Riccio says, not the workers who pay into and benefit from the pension system.

 

George Levinson June 15, 2012 at 01:37 PM
The source of this crisis is the inappropriate promises that the unions have coerced from foolish politicians. No responsible representative should have ever signed contracts that allowed people to retire in their 50s, let alone in their 40s or 30s. Furthermore benefit formulas that allow workers to collect up to 80% of their pay plus cost of living increases are simply too generous compared to workers in the private sector. Sure, the town was negligent to underfund the plan. That said, the saved money was used to prevent layoffs and further aggrevate the situation.. It is time to curtail the privileged status that Hamden workers have been given. Both pension and health care benefits are excessive and need to change.

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