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Public Pensions and Employer/Labor Relations Management Essay (Essay Sample)


Public Pensions and Employer/Labor Relations
After reading the Dorfman article, “Public Pensions are Still Marching to Their Death (Links to an external site.)”, respond to the following questions:
What are the political reasons public pensions are underfunded?
If the pension problem is political, what steps would have to occur to remedy the problem? Do you think such a remedy will ever take place?
If you do not see a remedy for the situation, what do you predict will happen to public pensions in the future?
Present your views in approximately 250 words in your initial discussion post. Respond to at least two of your peers’ posts. Utilize the course text, weekly lecture, and at least one other scholarly source. Remember to properly cite your sources.
Link to article


Public Pensions and Employer Relations
Public Pensions and Employer Relations
Public pensions are underfunded primarily because of their budgetary costs. Notably, providing public pensions does not lead to immediate profits or payoffs for the politicians and therefore, they tend to prefer to invest in other profitable ventures rather than for pension plans. Another reason for underfunding is that politicians use public pensions as means of buying votes during elections whereby state employees have their pension benefits increased while leaving out other individuals. They do this with the knowledge that the budgetary costs at the time are usually low. The other reason is that underfunding of public pensions is something that union representatives accept after agreeing with politicians whereby they give the impression that there was full funding when in reality the pension plans were underfunded.
Considering that p

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