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wow work 10 years and get healthcare for employee and spouse for life !! I can see putting in a full career of 20 years or more but only 10 years ! That is a sweet deal ! I also agree cola's during retirement is wrong if current employees are taking hit after hit, and no raises. You don't have to be an expert to know that is messed up ! Bottom line is this. City and State workers should do what every one else does and that is don't put all your eggs in one basket !!! Other investments should compliment the pension and retirement system. Whether it be investment in commodities such as gold and silver, or real estate, or perhaps a IRA, or even saving bonds. I don't think any pension system was meant to be all inclusive. If I were a employee for a town, city, or state than I sure as heck would have other means to save for retirement other than banking on a pension to get me through the golden years. Pensions are nice. There are pensions in the private sector. But, the people who are finacially smart have a diversified nest egg and certainly in these troubling times it woule be ignorant and stupid not to have other investments. Even social security is in question !

From: Mayor touts city's financial position

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