In the press release, Hatch is quoted as saying, "Today, public pension debt stands at an alarming $4.4 trillion...The public pension crisis plaguing our nation demands a real solution." What Hatch failed to mention was the massive liabilities in FEDERAL pensions. It's unclear why Senator Hatch would seek to reform state and local pensions and not talk about the huge liabilities in federal pensions. Here are some numbers on federal pensions:
Money set aside to meet retirement promises:
Private pensions - $2.3 trillion, State & local pensions - $3 trillion, Federal pensions - $0 (usa today)
Orrin Hatch's pension: $125,550 per year when he retires (abc4)
Why is Senator Hatch sticking his nose in state and local pensions when he should be focusing on his job and federal pensions? State and local governments are already making the necessary reforms to put their pensions on a sustainable path. I wish Mr. Hatch and our Congress would do the same with Federal pensions.
Tell Senator Hatch to do his job. Call his office today: (202) 224-5251 or (801) 524-4380