|
according to the article, people put in 5.5% of their salaries, the town put in a matching 10.5%. That's already a lot. They were 'warned' that the fund was running out of money. Given the shrinking tax base, I do not know what else they could have done.
Alabama is already a poor state. I suppose some of these people can leave town and get jobs elsewhere but having lived there all their lives, that's a lot of inertia to overcome (a lot of pride too) to pack up and go.
The saddest part is they are getting nothing for putting in their 5.5%. It wasn't even optional. If you worked for the state, you have to put it in.
__________________
Ben
1987 190d 2.5Turbo
|