Drudge Retort: The Other Side of the News

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johnny_hotsauce

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Wednesday, May 06, 2026

President Donald Trump has made a deal with Palm Beach Airport that will make him even richer. read more


Friday, April 24, 2026

Maryland became the first state to ban so-called surveillance pricing in grocery stores. read more


Wednesday, April 22, 2026

US Naval Secretary John Phelan has been fired. Phelan, who has no military experience, was appointed to the position by Trump in 2025 following a career as a private equity CEO and Republican fundraiser.


Wednesday, April 15, 2026

Notably, the video does not clearly show [Emeshyon] Wilkins carrying a firearm or turning toward the officer. A lawsuit brought against the city claims that parts of a disassembled gun was found on Wilkins but no actual gun was found. read more


Friday, March 27, 2026

An attorney from the Jeanine Pirro led DC United States Attorney office admitted in federal court that the DoJ has no evidence to support a subpoena request sought against Federal Reserve Chairman Jerome Powell for possibly making false statements to the Senate Banking Committee. read more


Comments

Wow, idk can companies even do this type of thieving?
Posted by oneironaut

Have you never worked for a company that offers a pension? If you have then you would receive periodic pension statements what would tell you to what level the pension if funded. You would know that businesses can adjust funding levels and that plans are often funded at levels less than 100% funded.

The Washington plan, at 110%, is still funded at a level far above most public employee plans which are on average around 80% funded.

Here's what I replied with when Boaz posted nonsense about this several months ago.

"The truth according to the Washington State Council of Firefights, the organization that exists to protect the beneficiaries of the fund, says about the bill.
"Over the decades, LEOFF 1 has become one of the most well-funded public pension systems in the country. Through disciplined funding, strong investment performance, and responsible oversight, the plan reached a funded status of approximately 160%, meaning it holds significantly more assets than actuarially required to pay all projected benefits."
"HB 2034 does not reduce benefits.
HB 2034 does not change eligibility.
HB 2034 does not alter pension formulas or COLAs.
HB 2034 does not eliminate medical benefits.
HB 2034 does not impact LEOFF Plan 2
LEOFF 1 retirees and beneficiaries will continue to receive the pension and benefits they earned through decades of service to their communities.
The transfer reduces the plan's funded ratio from approximately 160% to about 110%"
www.wscff.org

So the system is still overfunded and has no impact on current or future retiree benefits."

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