Richmond-where Wisconsin Gov. Scott Walker (R) wants to take the State, Virginia is one of a handful of countries: already did not prevent public employees collective bargaining at the State and local government. Given that, you'd think the nation's retirement program may look like a lot of those offered by private employers, right? It would be a mistake. The country kept firmly defined benefit plan for the benefit of its employees, the vast majority of stable and increasingly rare in the private sector.
Although there are no unions, Virginia has been one of four situations where employees for nearly 30 years, paid nothing each year toward their retirement. And its troubles are hardly spared no EU country's pension. Gov't., Robert f. McDonnell (R) has warned that the program will become insolvent over time if lawmakers do not take care of 17.6 billion in unfunded commitments. Virginia helps illustrate that reality complicates political rhetoric for both sides in the debate about public employee unionization: when it comes to retirement plans, there seems to be little correlation between generous rates of Union membership countries such as employers or financial stability of their systems.
The reality is that, if more countries followed Virginia eliminated collective bargaining, it could be the worst fears of many Republican members of the Association and not the best predictions for retirement benefits will come true. "It was a surprise to me," said Sylvester j. Schieber, former Chairman of the Social Security Advisory Board of the author of a recent study comparing the State's generous pension.
Schieber's study shows that States with some Union members are typically not more stingy when it comes to employee retirement than those with many Union members, he said. Schieber's study, which looked at the percentage of an employee's salary that pension systems are designed to replace retirement, found that Virginia has a program lmkodsht-32 countries are more generous, 17. But his plan offers working almost the same as that of Maryland, has a strong presence.
Another recent study, by economist at North Carolina State University, showed the same thing: Although the United States with strong unions offered better benefits in the 1970s, ' 80s, and that's the advantage of the fog in 2005.