Caveat Lectores on Drop Plans

1-29-11

So there I was attending a largely republican social gathering to honor public safety employees. Things were going well, then this “person” butts into a conversation the Lector was having with a firefighter union leader about the unfair attacks on public sector pensions. This “person”, who I easily identified as a right wing conservative nut job tea bagger type idiot (RWCNJTBTI), flatly stated that public employees who “DROP” were “unethical”, “immoral” and “wrong” to do so.

Things did not go so well after that.

The Lector has actually accomplished some research into DROP plans. Something I doubt this RWCNJTBTI would even consider. Fox News, the Florida League of Cities Newsletter and worse are probably the sources for the ridiculous views of the RWCNJTBTI. (I am not going to waste space describing DROP plans to readers who already know about DROP. It is a non-subject to those who are unaware or disinterested, but the link below provides a pretty good description.)

http://www.allbusiness.com/human-resources/benefits-retirement-benefits/854593-1.html

Facts did not dissuade the RWCNJTBT’s rancor.

Also, the Lector has an alter ego who teaches Business Ethics at a rather large university. I may not be a genuine for real PhD expert academic and philosopher on Business Ethics, but I claim to be and did read at the very least one book on the subject more than once.

For anyone to suggest than an employee is immoral and unethical for taking an opportunity offered by the employer that is perfectly legal is absurd. All the employees are doing is redistributing the way they will collect the money owed to them.

The overly simplified original idea for DROP plans came from management to entice employees to retire early while allowing the employer to plan for transitioning of the retiring employee on a date certain. If things went according to the plan, the employer would save money in a number of ways while the employee would gain the illusion of amassing a large fund of dollars they would otherwise not be able to amass.

These DROP plans were either unilaterally imposed upon non-union employees or bargained into collective bargaining agreements. All went well until the stock market and economy tanked and the “have nots” decided some employees were actually prospering from an idea that came from management. All hell has broken loose in the RWCNJTBT’s attempts to demonize workers for the failures of management. The facts are that many employers did not properly fund the pension plans in good times making it all the more difficult to pay back the underfunded liabilities, but we blame the employees for the misfeasance, nonfeasance and even the malfeasance of management and the politicians who control management. BOHICA

Fortunately for me, I exited the conversation with the RWCNJTBT before saying what should have been said but to my detriment. I do recall saying the day would never come when I would agree an employee was unethical and immoral for following the reasonable and legal rules of the employer. I wanted to say a lot more but E/S, who was unaware of the exchange, pulled on my sleeve and saved me from myself.

And oh yes, have a nice Day?

Wjc

Caveat Lectores by Jeff Carnes

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