Coach Nick Saban Could Get a Huge Pension, Courtesy of Alabama Taxpayers (He's not the only one.)
One of the things that is annoying to many of us in the private sector, the sector that pays for the public sector, are the lavish pensions government employees too often enjoy. In a time of 401ks and frugality in the engine of the economy, the public sector still has unrealistic defined benefit pension plans, paid for in large part by you and me.
In some states underfunded pension plans are beginning to threaten implosion - Illinois being the prime example.
Something needs to be done about these pension plans. The taxpayers can not be expected to pay completely unreasonable sums to public employees when the taxpayers should be instead be saving money (too often siphoned away via taxation) for their futures.
As America slowly reckons with its massive pension liabilities, means-testing retirement payments for recipients with seven-figure net worths should be a no-brainer.
Put another way: Alabamans might worship Nick Saban for what he's accomplished on the gridiron, but that doesn't mean they should be forced to add to his already astounding personal wealth with their own hard-earned money.
Here at The Sorrentino we prefer Auburn.