Wednesday, August 27, 2008

Save pension money by paying firemen less

As Kentucky's public employee pension black hole grows toward $30 billion in size, we would do very well to consider bringing compensation levels down to private sector levels. A good place to start may be with firefighters:
"“That’s not the case for firefighters,” Frates said, recalling how a recent [single] opening in the Newport Beach Fire Department drew a crowd of 600 applicants, including some who camped overnight. “What the market is telling us is that you don’t have to offer 3% at 55 to get qualified applicants.”"

The quote above came from here.

As reality sets in, we are going to have to look at options like this. We simply can not afford to pay people with tax dollars more than they are worth in the real world.