Quote:
Originally Posted by scottmandue
So you think employers should be allowed to do a bait and switch?
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My father was a Police officer in Oakland, CA for 26 years. His retirement was PRIVATELY funded and managed. When the police department entered the PUBLIC retirement system, the Oakland officers private retirement fund had performed so well and there were so few remaining retirees that the funds value was several million dollars per retiree. The retired officers agreed to dissolve their private retirement fund and distribute the monies to the surviving retirees.
But WAIT!!!!! Although the City of Oakland had no legal claim to the officers private retirement fund, they declared Eminent Domain or some such nonsense. They seized the private retirement fund and enrolled the private fund retirees into the public retirement program.
***** happens.