Pension Funds

Observing that “the only thing lower than the man who waters the workers’ beer is the man who drains their retirement fund,” Barbara Garson’s article (Commentary, Dec. 16) criticized Robert Maxwell for siphoning off more than half a billion dollars of employee pension fund assets from his companies.

Gov. Pete Wilson makes Maxwell look like a piker. Earlier this year, Wilson stole $1.9 billion from the pension funds of his employees (and others) to balance the state budget.

The money he stole wasn’t his, and it wasn’t the state’s. It was earnings from employee contributions that were to be used to help fight the ravages of inflation for senior citizens after retirement. There was no excuse for Wilson to take it--he just wanted it and thought he could get away with it.

Ironically, when the Los Angeles Unified School District tried to do the same thing to its employees, Wilson vetoed the bill, loftily proclaiming that retirement funds “should be used exclusively to provide retirement benefits.”

The courts will decide whether Wilson has to give the money back, with interest (paid by the taxpayers). Either way, it won’t change the fact that Wilson is an arrogant politician who takes what he wants regardless of whom he hurts.

BRUCE J. BLANNING

Executive Assistant

Assn. of California State Attorneys

and Administrative Law Judges