Retirement contribution rates cause concern

That is the headline of an article on the front page of the January 15 Shreveport Times.  I have written several times about the problems ahead because of many too generous retirement and pension plans.  Bossier City is facing this now and many other municipalities are in a similar situation.    In 2009 municipalities paid  ll per cent of police qualified earnings and 14 per cent of fireman's earnings in municipal retirement systems. Those rates for Bossier could reach 25 per cent or more in 2011.  Taxpayers who must work to 70 to qualify for a small social security pension will eventually rebel and refuse to fund such liberal retirements.