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Old 05-12-2018, 10:01 PM
 
9,086 posts, read 3,701,709 times
Reputation: 13384

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Quote:
Originally Posted by UntilTheNDofTimE View Post
However, federal government employees are paid way more. I know so many associate level CA state worker that left for the Feds to see 50% raises doing the same level of work. You get a TSP plan with a healthy match up to 5%. Im not sure how much federal government employees pay into the pension, if they do at all, and they are not required to pay into social security either which I would find to be a giant plus.
Could you get your facts straight first before going off on your rants? You are mixing up the several federal pension plans and combining them all into one super plan with all the benefits and none of the drawbacks

You said tsp and 5% matching, and not paying into social security. To not pay into SS, it would be the old CRSR but they did not get tsp matching. Yes they can put their own money into it but that is all.

The fers plans, yes multiple of them, have different contribution levels. Lower payout rate because they pay into social security and get tsp matching.
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Old 05-13-2018, 12:42 AM
 
Location: Honolulu, HI
4,575 posts, read 1,141,729 times
Reputation: 6538
Quote:
Originally Posted by mysticaltyger View Post
So yesterday's politicians and union leaders aren't held accountable for benefit formulas that are unsustainable.
Excellent post, the problem with government bureaucracy in one sentence.

Back on subject, as a public sector worker (Air Force) we obviously have many benefits that overcompensate for the pay a long with job security. But to do 20+ years of service which earned you the right to a paycheck forever is still not easy and you still need to get a second job to support your family. Only 17% of servicemen will choose to stay in the military that long to retire, the statistics say.

But I don't understand pension envy at all from any perspective.

All those public sector or retired military officers with massive retirement checks, earned it fair and square. I can say for a fact it isn't easy being told where to go for 20+ years of your life from the military standpoint of pensions.
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Old 05-13-2018, 06:12 AM
 
Location: Vermont
896 posts, read 264,155 times
Reputation: 1334
I worked for 16 yrs as a civilian in a large metropolitan police department. I paid in to the state retirement system (not social security) and get a pension that is less that $1800/month. I have the option of health care benefits through that system which will cost me $200+/month (do the math). I would much rather exercise that option than go on the state system where I live which is ... a hot mess.

I have worked for 12 yrs for the federal government and have paid in to their retirement system and am not sure the exact amount of pension I will receive when I pull the plug next year, but it will be less than $800/month. They try to push THEIR health insurance plan, which is $300+/month, an option I will NOT exercise. I will have to wait nearly a full year (or so they say) until they get me a final retirement amount and I receive a check that will be my final/monthly distribution.

I was able to sock away some money in the govt's version of the 401K and will take that disbursement as well, as soon as I am eligible. (not going to give that amount....but the other figures are correct and are for illustration).

I will pay taxes on every penny of the retirement money (and have been for the PD pension, which I've been collecting for a few years now - I had to take it when I was 55.) I am waiting to collect social security until I am 66+. That benefit will be reduced by the windfall elimination, however, and even then, where I live, I will pay taxes on THAT, too.

I am not getting rich in retirement (teachers where I live, on the other hand, have a much more generous benefit, and their health insurance is covered for them....by me.....who pays an 'education tax' as the larger part of my property taxes. (hence my desire to move. This state is NOT friendly to retirees.)

I earned or saved every penny of the money I will receive in retirement. No one has handed me anything. Sure. I was lucky in that as circumstances would have it I worked for organizations that offered pensions. When I took that PD job, I would have done it for free because I loved it so much and I never gave much thought to retirement.

Don't knock people who have pensions. Again, no one handed me anything. I worked for every bit of it. And if you don't have a pension, then once you start your working life, you'd better start thinking about how you will refund a retirement once you get there.
Thanks for letting me vent.
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Old 05-13-2018, 06:47 AM
 
Location: Vermont
896 posts, read 264,155 times
Reputation: 1334
P.S. My PD pension is run by a private organization that invests and manages that fund. That particular pension is NOT paid for by a taxpayer.
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Old 05-13-2018, 06:59 AM
 
Location: Chesapeake Bay
6,044 posts, read 3,634,911 times
Reputation: 3481
Quote:
Originally Posted by k374 View Post
it's not the same thing, SS pays very little.. government pensions pay a huge percentage of your salary for life hence it's a golden parachute. Why does it matter, because the rest of us pay for the privilege of these people.
Actually, SS can pay more than you might think.
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Old 05-13-2018, 07:23 AM
 
360 posts, read 432,768 times
Reputation: 486
All public employees erode what makes the US great, which is free market capitalism. Having a large percentage of the countries labor not have to worry about saving a penny because they are guaranteed 75% of their best three padded years along with health coverage for life, makes it impossible for a free market to put a price on anything. And for those who complain about insurance CEO's getting huge retirements, the only reason they do is because the government forces people to buy their product, and for public employees, they are buying that product with taxpayer dollars which we all are forced to pay. This festering problem which started in the Johnson administration, will be the downfall of the US unless it stops soon.
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Old 05-13-2018, 08:13 AM
 
3,634 posts, read 9,234,127 times
Reputation: 6384
I worked for the government for 31 years before retiring. For about 25+ of those years, most people told me I was really stupid for working for the government for such low pay. I always knew it was about the future. I gave up immediate gratification and much bigger salary for later benefit of pension and some form of health insurance.

Now those same people are really angry with my pension and health insurance in retirement. They could have done the same thing. I just figure they are jealous of my good decisions and lifetime of work.
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Old 05-13-2018, 09:48 AM
 
3,748 posts, read 7,213,486 times
Reputation: 4825
Quote:
Originally Posted by cvap View Post
All public employees erode what makes the US great, which is free market capitalism. Having a large percentage of the countries labor not have to worry about saving a penny because they are guaranteed 75% of their best three padded years along with health coverage for life, makes it impossible for a free market to put a price on anything. And for those who complain about insurance CEO's getting huge retirements, the only reason they do is because the government forces people to buy their product, and for public employees, they are buying that product with taxpayer dollars which we all are forced to pay. This festering problem which started in the Johnson administration, will be the downfall of the US unless it stops soon.
There is a county employee from the department of agriculture that comes to our workplace everyday. What does he do? Nothing. He spends his time surfing on his phone or talks sports to anyone who would listen. Nice use of taxpayer money, huh? And there is my cousin who works for the state. She clocks in eight hours a day but works for two hours.

How do these people live with themselves? I suppose that's the benefit of having a taxpayer supported job. As long as there are businesses, homeowners, property owners, and working citizens to tax, government clock punchers are golden.

If my company can't sell our services or products, we would be out of a job so fast.

Last edited by davidt1; 05-13-2018 at 10:24 AM..
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Old 05-13-2018, 09:54 AM
 
188 posts, read 89,660 times
Reputation: 550
Nobody likes pensions till they get one.
If you weren't smart enough to look for a job with benefits it's your own fault.
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Old 05-13-2018, 11:47 AM
 
Location: New Jersey
15,044 posts, read 13,099,196 times
Reputation: 6419
Ah, another bash public employees thread.

I work in the public sector making a whopping $50K in high COL Northern NJ. I'm not unionized and I'm forced to contribute to the failing state pension system. I would rather have a 401K sort of plan, but I have no say, just like everyone has no say when it comes to paying FICA taxes.

I drive to work and put up with the daily grind just like everyone else does. I work 8 hours a day which is not nearly enough time to cover the work load since staffing levels have been cut since the recession. I don't get OT nor do I expect it. My desk and chair is a hand-me down and my floor mat should have been replaced years ago, but I recognize that this is taxpayer's money, so I do without. Not asking for a pat on the back, but don't lump all public employees together. There are undoubtedly some dead beats who should be terminated, but there are more who work their butts off.

Quote:
Originally Posted by cvap
All public employees erode what makes the US great, which is free market capitalism. Having a large percentage of the countries labor not have to worry about saving a penny because they are guaranteed 75% of their best three padded years along with health coverage for life, makes it impossible for a free market to put a price on anything. And for those who complain about insurance CEO's getting huge retirements, the only reason they do is because the government forces people to buy their product, and for public employees, they are buying that product with taxpayer dollars which we all are forced to pay. This festering problem which started in the Johnson administration, will be the downfall of the US unless it stops soon.
All public employees erode what makes the US great? I guess you're not a fan of the military, police, the DPW workers who cut the grass on the side of the road or plow the roads during a snowstorm, etc. There's a ton of essential work that goes on in the background that supports vital public services. On another note, in my experience, the government tends to get ripped off and subpar service when something is outsourced/privatized. The public employees aren't the problem, it's the politicians and companies that feed themselves off taxpayer funds.
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