Omaha World-Herald editorial: Mayor, unions do good work on pensions

[Omaha Steve]

I retired last month. This won't effect me. But it will benefit Marta depending on how long she outlasts me. She will get 75% of my pension for life. Had the pension gone broke down the road under the old plan, she would have lost a good part of that.

She will lose my healthcare benefit when I'm gone.

OS

http://www.omaha.com/opinion/world-herald-editorial-mayor-unions-do-good-work-on-pensions/article_b30b444c-093f-5a30-b2df-6d06ff2b53fa.html

POSTED: WEDNESDAY, DECEMBER 24, 2014 1:00 AM

Omaha Mayor Jean Stothert, her team that negotiates labor contracts, city employees and their unions should be commended for addressing public pension program shortfalls.

The city now has agreements in principle with all of its civilian unions, police and firefighters.

Stothert is right to celebrate moving new city civilian hires out of old-fashioned pension plans and into hybrid cash-balance plans. This change will help the city budget over the long term.

There’s a reason a World-Herald Poll conducted this month showed Stothert’s approval rating at 60 percent. The actions being taken by her administration on the pension issue serve the public interest, and Omahans like the progress they’re seeing.

FULL story at link.