yet another example as to why America is broke

[NeverEndingMe]

solution - never allow tax payer money to fund a pension. if a pension is underfunded, oh well so sad so sorry

Government workers are the 1%

COLUMBUS, Ohio (AP) -- After nearly 40 years in public education, Patrick Godwin spends his retirement days running a horse farm east of Sacramento, Calif., with his daughter.

His departure from the workaday world is likely to be long and relatively free of financial concerns, after he retired last July at age 59 with a pension paying $174,308 a year for the rest of his life.

Such guaranteed pensions for relatively youthful government retirees — paid in similar fashion to millions nationwide — are contributing to nationwide friction with the public sector workers. They have access to attractive defined-benefit pensions and retiree health care coverage that most private sector workers no longer do.

Experts say eligible retirement ages have fallen over the past two decades for many reasons, including contract agreements between states and government labor unions that lowered retirement ages in lieu of raising pay.

With Americans increasingly likely to live well into their 80s, critics question whether paying lifetime pensions to retirees from age 55 or 60 is financially sustainable. An Associated Press survey earlier this year found the 50 states have a combined $690 billion in unfunded pension liabilities and $418 billion in retiree health care obligations.

Yet with cities, counties and states struggling to pay pension bills, changes are afoot.

In November, San Francisco voters supported a local ballot initiative to hike minimum retirement ages for some city workers. Since that time, laws increasing retirement ages for government workers were signed in Rhode Island and Massachusetts in efforts to address underfunded pension systems.

Earlier in New Jersey, part of a legislative deal struck between Democrats and Republicans raised the normal retirement age from 62 to 65.

http://finance.yahoo.com/news/public-retirement-ages-come-under-170328247.html

 

[unregistered]

 

[Sean Renaud]

This solution has a 1% chance of survival in the world .

Fixed it for ya.

 

[dreami]

it isn't the honest, hard working poorly done by government employee that is draining the system dry
it is the big, fat bureaucrats who are bleeding the system dry.

i think that is an important distinction


in the UK if a prime minister is in office for 10 years or more then that person qualifies for that level of salary for the rest of their lives.
->everyone predicted the day Tony Blair would step down cos it was 10 years to the day that he had held office.
.... i am not being a cynic... just reporting the facts

until we stand together and say 'no more shit' nothing is going to change.
corporations lobby governments
we buy into corporations by using their products
if we use the pounds/dollars in out pockets to vote with our feet
then we can show them who is in control
... in South Africa when sanctions were introduced the Blacks said 'good'
cos they were already suffering and having to make do or do without (without jobs, homes, food, security, education, healthcare)
it is that strength and conviction that we can find within ourselves that will make the difference ... when was the last time you did something for a stranger without thinking how you would benefit from it?
cos it has to start somewhere ... can you be that special someone?

 

[Beco]

Wow so, public education pay's out a whopping $174K a year? Who knew???

For you young people, if you're doing what you love, good for you. Keep doing it. However, if you really know yourself, and you just know you won't get rich off of your current job, go work for the government. From what I hear, its not the best of jobs, working in a cubicle, side by side with a bunch of old woman , shitty bosses, tough commute, but...........the bright side is, when you retire, usually in your fifties if you put in enough time, you get that pension!!

I know tons of people that JUST retired, young enough to enjoy the next 25 years with income coming in and health benefits....

Me? I'll be working until they drag me out of there in a body-bag.....

 

[garbage can]

Nobody seems to give a shit that the public unions are raping the taxpayers.

 

[Cade Is Here]

This solution has a 1% chance of survival in the world of liberalism.

That much?

 

[Sean Renaud]

Nobody seems to give a shit that the public unions are raping the taxpayers.

Because that's not happening. It's a myth.

 

[NeverEndingMe]

Government is the new 1%

Wow so, public education pay's out a whopping $174K a year? Who knew???

For you young people, if you're doing what you love, good for you. Keep doing it. However, if you really know yourself, and you just know you won't get rich off of your current job, go work for the government. From what I hear, its not the best of jobs, working in a cubicle, side by side with a bunch of old woman , shitty bosses, tough commute, but...........the bright side is, when you retire, usually in your fifties if you put in enough time, you get that pension!!

I know tons of people that JUST retired, young enough to enjoy the next 25 years with income coming in and health benefits....

Me? I'll be working until they drag me out of there in a body-bag.....

 

[Karen Kraft]

Nobody seems to give a shit that the public unions are raping the taxpayers.

To strike against the public interest needs to be made unlawful.

 

[NeverEndingMe]

To strike against the public interest needs to be made unlawful.

government workers only think about how they can stick it to the tax payer. remember, government is the new 1%

 

[cheesehead2]

Nobody seems to give a shit that the public unions are raping the taxpayers.

Not all of them.

 

[NeverEndingMe]

Not all of them.

maybe, but I've never met a union thug that I liked. maybe you are a nice one. hopefully so

 

[cheesehead2]

maybe, but I've never met a union thug that I liked. maybe you are a nice one. hopefully so

Not talking about union thugs. I agree on that subject. I,m talking about public pension funds. I serve on the board of a fire dept. pension fund as the retired member. We manage our fund and have been able to get it up to a 80% funded fund. now as far as a pension. A fireman pays 9.9 % of gross pay into the fund . The taxpayer also pays the same. When we retire we can not collect S.S,or any gov. health plans. We also pay half the cost of health ins. from the city. In order to retire and collect a pension you must be 55 yrs old have 20yrs of service to receive a 50% pension after that you get a 1% increase each year until you reach 65%. May I add I now pay 825.00 dollars a month for med. ins. I,m not sure where you live but check and see what your fireman make. I would hope you might not think the pension is screwing the taxpayer.

 

[NeverEndingMe]

Not talking about union thugs. I agree on that subject. I,m talking about public pension funds. I serve on the board of a fire dept. pension fund as the retired member. We manage our fund and have been able to get it up to a 80% funded fund. now as far as a pension. A fireman pays 9.9 % of gross pay into the fund . The taxpayer also pays the same. When we retire we can not collect S.S,or any gov. health plans. We also pay half the cost of health ins. from the city. In order to retire and collect a pension you must be 55 yrs old have 20yrs of service to receive a 50% pension after that you get a 1% increase each year until you reach 65%. May I add I now pay 825.00 dollars a month for med. ins. I,m not sure where you live but check and see what your fireman make. I would hope you might not think the pension is screwing the taxpayer.

This is where you lose me. what does "Service" mean? do you mean "having a job"?

also, after 20 years of being on the job? some places people are eligible for full pension after 20 years, screw that - this needs to be min of 30 years if not 40 for full pension. This is one of my pet projects as I'm going after our local government nutjobers.

also, I was successful as we had a local fire dept wanting to charge a fee for every car accident, medical, and fire call that they went on. Min of $750 per call. the weak argument on their side " most insurances will pay the fee". screw that, time to put government on a diet!

I'm very proud that I helped shoot that down and they were pissed when I brought up the "outsourcing" option and that is when they backed down.

the problem wasn't lack of funding, the problem was obscene spending. give them more money, and they will waste more.

government mustn't become the 1%

 

[richard_daily]

solution - never allow tax payer money to fund a pension. if a pension is underfunded, oh well so sad so sorry

Government workers are the 1%

Hey jenin,
you need to earn about 4x that to be considered in the 1%... dumbass.

 

[NeverEndingMe]

Because that's not happening. It's a myth.

Clearly Wisc will stand up to the thuggery of unions! You need to wake up to your fantasy, people are getting pissed off at government and government workers. time we made government accountable and responsible with OUR money (and by OUR I mean those that pay income tax and not living off government)

 

[bhurry]

This is where you lose me. what does "Service" mean? do you mean "having a job"?

also, after 20 years of being on the job? some places people are eligible for full pension after 20 years, screw that - this needs to be min of 30 years if not 40 for full pension. This is one of my pet projects as I'm going after our local government nutjobers.

also, I was successful as we had a local fire dept wanting to charge a fee for every car accident, medical, and fire call that they went on. Min of $750 per call. the weak argument on their side " most insurances will pay the fee". screw that, time to put government on a diet!

I'm very proud that I helped shoot that down and they were pissed when I brought up the "outsourcing" option and that is when they backed down.

the problem wasn't lack of funding, the problem was obscene spending. give them more money, and they will waste more.

government mustn't become the 1%

Sounds as though you have all the right answers. Just wondering what you do. Job,pension,health care costs. Just wondering.

 

[NeverEndingMe]

Sounds as though you have all the right answers. Just wondering what you do. Job,pension,health care costs. Just wondering.

I could never last 3 weeks, in a place that had a pension. mostly cuz that is old business or government and both places have too many rules and move too slowly. I would get board and have to deal with too many idiots. in addition to that, if that wasn't enough, I hate the pay grade system. If I had a coworker like Sean, and we did the same job there is no f'ing way I could ever accept making the same amount as him. no offense Sean, but I smoke you on every level except government

 

[patrick1]

I'm nearing pension age and have seen many fashions and trends in pension provision and entitlement.

To despise workplaces that provide pensions is in my view a terrible mistake. You don't know how life is going to turn out for you. An accident, an illness, an economic downturn, and you're in trouble. Ask the Chinese, who save like crazy.

Instead we need to work out how everyone within reason can save for an affordable pension which would keep their head above water in hard times. Private companies that took pension 'holidays' in the 1990s and indeed in some of the noughties are now rowing back on their pension schemes.

People in the public sector are going to have to pay more for less: that's the way it is. But people in the private sector have got to work out how to save for their own pensions, not condemn other people for hanging on to theirs. When times are hard some not-so-well-off people start blaming other not-so-well-off people for misfortune and hardship. It's rarely so.

Patrick

 

[NeverEndingMe]

when it comes to business, I always put 20% away and have lived that way since age 13. rule #2, only rely on yourself. this way if Social Security is still around and if I make it to 50, 55, or what ever age one retires, great. if not, well no worries.

the problem with government sector, what I posted sums it up: government worker greed.

I'm nearing pension age and have seen many fashions and trends in pension provision and entitlement.

To despise workplaces that provide pensions is in my view a terrible mistake. You don't know how life is going to turn out for you. An accident, an illness, an economic downturn, and you're in trouble. Ask the Chinese, who save like crazy.

Instead we need to work out how everyone within reason can save for an affordable pension which would keep their head above water in hard times. Private companies that took pension 'holidays' in the 1990s and indeed in some of the noughties are now rowing back on their pension schemes.

People in the public sector are going to have to pay more for less: that's the way it is. But people in the private sector have got to work out how to save for their own pensions, not condemn other people for hanging on to theirs. When times are hard some not-so-well-off people start blaming other not-so-well-off people for misfortune and hardship. It's rarely so.

Patrick

 

[benschup]

To strike against the public interest needs to be made unlawful.

In most states it is againist the law for fire and police dept. I would also like to say that the pension amounts used in the threat are by far way out of line with most police and fire pensions.

 

[SgtSpiderMan]

when it comes to business, I always put 20% away and have lived that way since age 13. rule #2, only rely on yourself. this way if Social Security is still around and if I make it to 50, 55, or what ever age one retires, great. if not, well no worries.

the problem with government sector, what I posted sums it up: government worker greed.

It's easy to sock away 20% of nothing when you have no bills and live off of someone else.

 

[Ham Murabi]

Because that's not happening. It's a myth.

There's a lot of confidence in that statement. It's still wrong.
I'm not sure of the situation here in Arizona, but I know in Nevada where I used to live it's not uncommon for cops and firemen to rake it well over $100,000 a year, rig their schedules so they work nothing but callback, and have no limits on how much sick/vacation time they can cash in when they retire.
I have no problem with public servants getting a decent wage and benefits package, but there is something wrong with this picture when someone can take a 6-month paid training course and come out earning more than a teacher who has been on the job for 10 years. And BTW, it's my belief many teachers are overpaid.

 

[patrick1]

when it comes to business, I always put 20% away and have lived that way since age 13. rule #2, only rely on yourself. this way if Social Security is still around and if I make it to 50, 55, or what ever age one retires, great. if not, well no worries.

the problem with government sector, what I posted sums it up: government worker greed.

Obviously in the private sector greed isn't a problem. Except when they have to be bailed out by the government sector. Or get employed by the government sector to make or build stuff. Or rip people off. Or pay workers peanuts.

Hey, happy Christmas.

Patrick