First Responders suit WA

[gatomontes99]

Plan to sweep $4B from WA police and firefighter pension fund spurs lawsuit

Backstory: the pension was invested in the market and did very well. It now has more money than it needs. So, the state passed a law to take the excess. 

The first responders did their job and they did a good job of managing their money. They should not be punished with a loss of their money. The state needs to get their shit together and manage their money better rather than stealing someone else's.

[John Stone]

somewhat of a precedent -

As of the end of 2024, the FEDERAL government owes approx 2.7 trillion to the SS trust funds - 3 billion to the OAS and Survivors Insurance fund and 200 billion to the Disability Insurance fund. Every dollar of that balance exists as a special Treasury security - essentially an IOU the federal government issued to itself. The money was collected from workers paychecks, lent to the Treasury by LAW, spent on other government operations, and must now be paid back to cover benefits for retirees and people with disabilities. 

ka-ching! Up goes the debt ......................... or will it be paid back??

Edited May 19 by John Stone

[User]

Hell, most states don’t even have a fully funded pension. It’s a time bomb across America how states like California and others have robbed their people and set them on a course of financial ruin.

They have public pensions and public salaries that are out of control with how much they spend, then they steal from the pension to float the general fund. 

[John Stone]

On 5/19/2026 at 11:03 AM, User said:

Hell, most states don’t even have a fully funded pension. It’s a time bomb across America how states like California and others have robbed their people and set them on a course of financial ruin.

They have public pensions and public salaries that are out of control with how much they spend, then they steal from the pension to float the general fund. 

......... yeah, all legal.

When the music stops a lot of folks are going to be left without a chair ($$)