Letter: Pension contributors are entitled to funds
The amount of money you'll need for retirement depends on a variety of personal factors, starting with how much you need to float your lifestyle today. Credit: iStock
Common sense would lead us to outrage and anger about pensions being awarded to those who break the law, specifically by milking the system [“Break the law, lose the pension,” Editorial, Jan. 24]. But in proposing to amend New York State’s pension laws, Newsday’s editorial board is ignoring an important part of what a defines a pension.
Pensions are part of a salary agreement, a portion that is deferred until retirement. So with a $50,000 salary, the employee might receive $49,000 annually, and $1,000 will be held in an interest-bearing account until retirement. This is a win-win, as that money is invested with governments and private companies.
Pensions are really just backloaded salary. The employee is entitled to that money even if he or she breaks the law.
Beth Shapiro, Oakdale
Editor’s note: The writer is a retired schoolteacher.
