The difference is the way private sector and public sector union contracts are approved.
Private sector, the money is coming out of the business owners pocket and that is who the union is negotiating with.
Public sector, the money is coming out of the taxpayers pockets and the contract are approved by elected officials that receive campaign funds from the unions.
THAT'S THE DIFFERENCE -- TOTAL CONFLICT OF INTEREST.
They sell pensions on returns from investments - total pie in the sky. Calif and all of its cities and countries are buried in billions of dollars of unfunded liability. That's pension money due that isn't in the bank. On a average employee pensions are costing CA govt (inc cities and counties) 50% of their budgets. That's average - so some are in real deep $hit.
Hazardous duty employees, cops, firemen, landfill workers, etc are on the program where they get 90% of highest pay after 30 years service as a pension. I read the other day where 3/4 of the firemen appeal their pensions and win disabled pensions which pay much more.
thats right and thanks about 96% of union pensions or not fully funded thats why they push so hard to get new blood [fedex walmart] they need their money before the ponzi sceam blows up .. so im guessing by the time i turn 65 my pension will be in line with SS .. they tell me my pension should be about $2700. a month at 65 now .. but i never put in more than $400 a month .. bernie madoff must have been union