Devos to Legislature: Time to End School Pensions

Reblogged from MEAMatters.com

The Mackinac Center has pushed for years to shut down the state pension system, but pressure has been building. Giving substance to rumors of a push during the next lame duck session, Amway President Doug DeVos announced to attendees at the West Michigan Policy Forum that ending public employees’ pension benefits is the No. 1 public policy priority.

Killing pensions and replacing them with 401k-type plans allows investment firms to make billions managing them. Central to this plan is the need to convince the public that the cost of these pension plans is bankrupting cities and states.

This is a nation-wide attack, led by Enron billionaire Tom Arnold, whose Arnold Foundation is flooding right wing think tanks across the nation with funding to do this work. The Enron meltdown cost public pension funds $1.5 billion in losses.

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