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Metropolitan DC Local Politics
Reply to "Fairfax county contribute 27.14% towards employee"
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[quote=Anonymous][quote]I have a friend who work for Fairfax. He mentioned the County has reduced pension benefits for incoming employees and are ALWAYS looking for oportunities to reduce pension liabilities for future. Believe me, the County is well aware the existing pension plan is too generous and there is no way they can sustain it into future. Other local governments are doing the same. Just like the private sector, local and state govt pensions are slowly migrating to self managed plans such as 401/457/403b, etc. [/quote] This. But also realize that the benefit payout at 25 years of service is half of what it is at 30 years of service (no kidding). Many employees (most) don't make it to 30 years so the 25% is not as much as you may think. [/quote]
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