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Bob, I'm not a retiree. If there is no money and the rest of the world doesn't get a raise it is ok with me that current employees don't get one. As with retires, if that's what they agreed on when they retired that is what they should get. when I retire I hope the same holds true. Pension 1 is a problem but when push comes to hove there is no other way but to deal wit it. The city will find away. Not sure the legal rights from taking from one plan to another. I think some retires in other cities that got 5 & 6 percent are out of their mind but 3 is not outrageous. Only 2 years in the last 30 plus has social security not gotten a cola.

From: City’s ‘critical’ pension plan to get outside review

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