The cancer spreads
Washington State Senator Doug Ericksen, R-Ferndale, is offering a bribe of $10,000 to state workers if they give up their state pension and move into a 401(k). This is a really bad idea.
The Koch brothers, John Arnold, Pete Peterson and the rest of the crew must be celebrating over this one.
Following on the heels of the disastrous decision of Boeing to flip their employees out of a defined benefit pension into a 401(k), Washington State Senator Doug Ericksen, R-Ferndale, will introduce legislation that would offer a $10,000 incentive to state workers who agree to move from the state pension system into a 401(k)-style retirement package.
“If it’s good enough for Boeing, it should be good enough for the employees of Washington state,” Ericksen said. His plan would end pensions for new state hires in addition to offering the incentive to current workers.
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