Quote Originally Posted by Wesley Mouch View Post
As it probably should. Is there any valid reason why local control of pensions is better?

Generally, I'm against federal power -- but sometimes it is better.
Local control of Pensions is better for the same reason that states rail against the federal government about returning tax revenue to the states.

Detroit's pension funds have been used to stimulate Detroit's economy by investing in local businesses and ventures. Sure some of those investments didn't pan out, but some of the State's didn't either [[like Raleigh Studios in Pontiac). Detroit's pension funds bailed out the City in the CAY administration. Before anyone sneers, the funds were all repaid and CAY created a rainy day fund for Detroit that still had millions when he left office.

The point is, if local money creates the funds, the funds should be where local entities can have a voice. If the State decides to make some contributions, the State should have a voice in how the funds are managed that is commensurate with its contribution.