Retirement Envy

USA Today stirs the pot today with a huge cover package on how retirement packages for government workers are much more generous than those in the private sector -- and the gap is growing. The piece magnifies the distinctions by lumping public-sector benefits at all levels -- state, local and federal --together. Some high points:

• At the federal level, the unfunded liability for military and civil servant retirement benefits is bigger, at $4.7 trillion, than the one for Social Security, which weighs in at $4.6 trillion.
• With a supplemental annuity waiting for him, Johnnie Nichols, a civilian Defense Department employee, says he's itching to get out. "The sweet spot for me is about age 56," he says. "When I run the numbers, the system almost forces me to retire" early.
• John Moorlach, an Orange County supervisor who's trying to cut benefits for civil servants, says politicians "love to give generous retirement benefits because they don't cost anything today and they'll be out of office when the payments come due." As for the public, "eyes droop with boredom when you bring up the topic," he says.

As baby boomers age, you can bet that pay and benefits issues like those outlined in the story will generate more and more controversy.