New welfare

Here is another view regarding the “generosity” of the Board of Regents in giving what is not theirs to give: an extra year toward retirement in lieu of a raise to La Tourette and others.

Our state pension is already overburdened due to underfunding by the state, incentives for early retirement and increased longevity.

Those who have taken early retirement may spend more years living off unearned pay than they did to earn it. This is a new kind of welfare.

I am glad I did the responsible thing waiting for mandatory retirement age. My conscience is clear. I did not overburden the pension fund unnecessarily. But the University was irresponsible in enforcing a mandatory retirement age, since I probably had another 10 years of working for my pay instead of living off the “welfare” of the pension system.

Those who are responsible for the state pension predict bankruptcy by 2010. I predict it will happen sooner if our state officials don’t start behaving responsibly.

Albert Walker

Retired Professor