State Pension Reform: Who’s looking out for the taxpayers?
Part Two of the reform to South Carolina’s public-employee pension system is turning out to be a classic case of concentrated benefits and dispersed costs, a phenomenon which favors recipients of government payments at the expense of the average taxpayer. There’s a way we might mitigate some of the harm that’s already been done; but first, let’s review where we are now and how we got there.
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