Guest View: Public Employee Pensions Need Legislative Action
By Susan Wallerstein
A recent New York Times article (7/21/10) described how Maine is revisiting its longstanding practice of funding public employees’ pensions exclusively through a state retirement system. Public sector employees, including teachers in Connecticut and 13 other states, do not currently participate in the federal Social Security program. Recent articles about deferred retirement option plans (DROP) describe the benefits of allowing area public safety employees who retire to be re-hired in the same positions. Policymakers explain that these plans typically generate savings for participating towns and cities while allowing them to retain highly qualified individuals.