MZ what I get out of that is that he wants the employee to pay for his benifiet...
In most cases the entire 7% is paid by the employer. We just negotiated for a better plan but had to pay for it.... it was like 1.5% cost to us.
I see nothing wrong with this. Since Pers members don't pay SS at all they are pretty much getting a 7-10% bennie by having the employer pay for the pers.
Some will still pay this as an incentive to get new employees... If not.... no big deal. It is like any other (in this case state) benifiet... you either get it or you don't... It is no different than say suggesting that employees pay a percentage of rising health care costs.
It appears that Arnie is asking state employees to pay a share or all of their pers benifiets... He would offer also the ability to opt out if this seemed to expensive or odious to employees.
Even if the employee paid the entire 7% he would still be way ahead of the poor socialist schmo who was stuck with SS... wouldn't you agree?
Also with pers... you can cash out at any time.... take your entire contribution out in cash... You can also pay it back if you feel you made a mistake later on.