Why can't teachers/cops live with 401(k)'s instead of pensions?

[Jim in CT]

Originally Posted by The Dad Fisherman

Its Striped-Bass Fishing | Striper Fishing.....correct

Dad, if it makes it more palatable to you, I'll re-phrase.

The last time I owned a fishing boat was a 20 foot Key West center console which I loved. Paired with an E-tec 130. One day my son and I were casting eels with custom rods made by J&B tackle in Niantic, matched with spinning reels and 14 pound braid, along Fishers Island, NY. I noticed my neighbor who is a public schoolteacher, married to another pubilc schoolteacher, and he is in a 27 foot grady white center console.

My boy asked me why we couldn't afford a boat that sweet, and I said "well son, since I'm not in a public union, I have to put $15k a year into my 401(k). If I had a pension instead, my financial security in retirement would be everybody else's problem except my own, and in that case, we could put that money towards our dream boat." At this time, we were near Isabella beach at high tide, and the fishing was picking up.

He asked me "why don't you have a pension?" as he landed a nice schoolie.

As I removed the size 5/0 Gamagatsu circle hook, I said "because they are too expensive to ask our customers to pay for". As the tide slackened, we moved to the Race and trolled umbrella rigs with wire line. We let out 300 feet of wire to get below the cocktail blues that were down to 10 feet or so.

So he said "so why do teachers get pensions then. I'm only 4 years old, but even I see that it doesn't seem fair".

On the way in, we stopped at the warm water discharge at Millstone Power Plant and hooked up with some albies. "Son, I said, you're right, it's not fair, and not only that, it is bankrupting our entire country. When you get a paper route in 5 years, they'll put you in the 75% income tax bracket to pay for all this spending".

While cleaning the boat afterwards with Colinite boat cleaner (which works great when paired with Colinite wax), he said "gee Dad, it seems selfish for public unionized employees to place such a significant tax burden on the public that they claim to serve. If we can all live with 401(k)'s, why can't they?"

We grilled the stripers with lemon, garlic, onions, and pepper.

Other than the spot burning, is that framed better?