The City of Prichard, Alabama has ceased to pay
ANY Pension to ANY City retiree. Even though the
retired City employees of Prichard paid 5.5% of their
salary for the years they worked for the City, they are receiving NO Pension at all. The average Pension for
retires of the City of Prichard is $12,000 a YEAR.
(Source: The New York Times, December 23, 2010) Prichard, Alabama is only the first of many Cities, and possibly States, that will not pay Public Employees their Pensions. A Federal Law enacted in 1974, entitled the Employee Retirement Income Security Act, protects certain Pensions for employees of private companies yet there has been no comparable Legislation for State and Local Public employees in the 36 years since 1974. We are proposing a plan that will Protect State and Local employees full Pensions that is strictly VOLUNTARY and will cost the Federal Government NOTHING. We are proposing that the 16.6 Million State and Local Public employees be able to, on a strictly voluntary basis insure their full Pensions, for a monthly fee, with the Federal Government. Any public employee that is not already receiving their Pension would be grandfathered in.
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I would like to help petition to Insure and Guarantee
State and Local Public Employees Pensions.
By submitting this form, I am signing a petition requesting that Congress pass Legislation that would allow
State and Local Public employees to Voluntarily insure their Pension Plans, for a monthly fee, with the Federal
Government. Public employees that are already not receiving their Pensions would be grandfathered in.
Should Congress be deaf to the 16.6 Million State and Local Public employees and not pass this Legislation, then I support a National Advisory Referendum on this issue.
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