Private-sector pensions becoming rare (The State Journal-Register)

PEORIA — While pensions are still common for public workers, they’ve become a scarce commodity in the private sector.

At the same time, questions are being raised as to whether society can still afford to provide the kind of benefits offered to some public-sector retirees.

As private-sector companies have pulled out of the pension business over the last several decades, public-sector workers appear to have held onto benefits. Using 2010 Census Bureau data, the New York Post found that the average New York retiree received an annual benefit of $13,100 while state and local government retirees received an average of $27,600.

A 2005 Texas study found that 92 percent of public-sector workers participated in a pension program compared to only 36 percent of those in the private sector.

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