Group crunches pension numbers
DeKALB – Jim Tobin says the state’s pension system will collapse unless it switches from a defined-benefit system to a defined-contribution, 401(k)-type system, similar to what many private-sector workers have.
The president of Taxpayers United of America, who spoke Wednesday in DeKalb, said the current pension system was helping to make a number of DeKalb County retirees into multimillionaires.
A 2011 investigation by the Daily Chronicle showed 101 people who had retired since 2000 and worked at a public agency in DeKalb County collected six-figure pensions annually.
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