This Friday, January 20, a particularly farcical election cycle, where outcomes are predetermined as the voting public is anesthetized to real issues by a spate of diversions and misinformation, will end.
- 52% or 1,029 of Participants will not have any reduction
- 8% or 168 of Participants will have their benefits reduced up to 10%
- 10% or 197 of Participants will have their benefits reduced by 10 to 20%
- 13% or 265 of Participants wil have their benefits reduced by 20 to 30%
- 10% or 191 of Participants will have their benefits reduced by 30 to 40%
- 6% or 115 of Participants will have their benefits reduced byt 40 to 50%
- Under 2% or 30 of Participants will have their benefits reduced by 50 to 60%
The voters were further informed:
If you do not vote or if your vote is received after 5:00 PM ET, January 20, 2017, you will be treated as though you voted to approve the benefit reduction. In other words, your failure to vote on time is the same as a vote in favor of the benefit reduction. This treatment of non-voters is required by MPRA.
So what if the vote goes the way it has been fixed to go? Near the end of the 7-page Explanation of Ballot that voters got, if they weren’t already thoroughly confused and disgusted by then, they would have found:
- uncertain: not to be depended upon; unreliable
Three years ago the plan’s funded ratio was at 23.91% with the average retiree getting an annual pension of $17,500. One thing certain that can be certified is that a mere 20% overall reduction in benefits will NOT avoid insolvency.