Suzanne Shaw talks about the ticking time bomb that is our state's pension crisis.
And now, an NBC Bay Area Editorial.
I'm Suzanne Shaw, NBC Bay Area Editorial Director.
People are living longer and retiring sooner, so the average retiree works 20 years and gets 26 years in pension pay. No one should lose their pension. But we need to scale back the benefits for all new hires, like other states, we should:
The number of state retirees reaping over $100,000 a year in pension pay went up 60% last year alone. We cannot pass these uncapped promises onto our children.