Re: the March 12th editorial on Teacher and Public Employees Retirement problems. It would be very comforting to know the legislators cared enough about the State’s retirement plan for Senior’s with the same diligence. That is what the Longevity Bonus was in case they have overlooked the wording. It was granted to pre-statehood residents, most of whom were not nearly retirement age, but who had worked with primitive lifestyles and little public help to develop the territory to the point of qualifying for statehood. Then there was an added clause of “25 years continual residency” before the age of 65 intended to eliminate newcomers who had the advantages of new state aids and companies with retirement plans to join in.
The money set aside would have taken care of those for whom it was intended. How many teachers or legislators have to give 25 years continual residency to collect their state pensions? How many would even have the position receiving the pension if the state had not been formed?
The fact the other state pension receivers give a 5 percent contribution is offset by the fact the LB recipients paid state and school taxes for many years. Also the dollar amount necessary to restore the funding for the few survivors would soon go away due to the normal die-off, where the other two under consideration will only increase.
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