Pfeifer right about defined benefits

Tue, 05/06/2008 - 3:58pm
By: Letters to the ...

Re: Commissioner Pfeifer’s Position concerning defined benefits.

It is refreshing to see an elected representative that understands the fiscal downside to defined benefit plans.

These plans have been pretty much abandoned by private enterprise due to their significant future liability to shareholders.

Citizens of Fayette County need to challenge the County Commission to clearly communicate the future costs of this proposed plan.

Why do they want to change the current plan? What’s the goal? Are we having a problem attracting people to work for the county? I doubt it.

While I am certain that the commission thinks that they are doing something right for the employees of the county, they should also think of its citizens and the future financial burden placed on their shoulders.

Is the revenue generated by taxes an unlimited stream? Don’t taxpayers need to keep their money to fund their own retirement?

I do agree that employees should have a retirement plan. However, there is no reason for their plan to be any different than most of the taxpayers of this county. The commissioners that have voted for this proposed plan are not working to protect the taxpayers of Fayette County. Or maybe it’s that they don’t understand the cost?

I would like to thank Commissioner Pfeifer for clearly representing the interests of the taxpayer.

James Wingo

Peachtree City, Ga.

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