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Dear Scal1024,

You didn't show me the math. You just said that mine won't work. How does Texas being a right to work state have anything to do with a pension buyout? Never mind. It doesn't. It might effect the amount. Most right to work states have smaller pensions, but the theory is the same. If a retiree is interested in a one-time "cash-now" pension buyout, Warwick (or Texas) would send the request to our insurance actuaries. An actuary is a person who analyzes and assesses the risk of each individual request. The insurance people know exactly what number Warwick should offer to the retiree that would benefit Warwick as well as the retiree. If the retiree refuses, no harm. No foul. No cost. If the retiree accepts then both sides benefit. How many will accept? No one knows Scal. That's why it's impossible to predict how much success the program will have. That's also why I designed it so that if even one person accepts, it becomes a win-win for the retiree AND WARWICK! I studied pension buyouts in college (in the 70's) and have spoken to many people involved in the industry over the last few decades. I've learned a lot, and I honestly believe Warwick can benefit from the idea. You said I haven't spent "30 seconds researching this". You're right. It's been well over 40 YEARS.

Do you have questions about any other parts of "the Corrente Plan"? If you do, I will be happy to answer them.

Happy Summer Scal1024,

Happy Summer everyone.

Rick Corrente

The Taxpayers Mayor