Police send a message to Mayor Brian Bowman by going door-to-door

Well, we could cut your salary, just because, let's say 25%, reduce your pension, and remove your benefits. Let's try that?

Why? I'm not over paid? I'm paid what the market says I'm worth, not what the union blackmailed the government into paying me. ("you really can't afford not to pay us more...")

Obviously many winnipeggers don't realize why the pension contribution is so high. The city "borrowed" pension funds in the 80s, and because you can't really do that, they're required to pay it back incrementally and agreed upon. It has nothing to do with the officers working right now, it was a beaurocrats decision back then, and unfortunately the city is on the hook for it now.

Yes and no. Employers should absolutely be barred from pillaging pensions when the yields are higher than expected, and they should required to pay any such 'stolen' funds.

But, in this case it's the 'defined benefits' that is the problem. The entire market could collapse and the pension funds could be reduced to $0, and the City would still be on the hook for the full 'defined' benefit.

That's nuts.

/r/Winnipeg Thread Parent Link - cbc.ca