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Old 09-18-2018, 01:17 PM
 
Location: northwest valley, az
3,072 posts, read 1,831,707 times
Reputation: 4191

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and, what would he gain by doing such an silly thing?
certainly not add to his wealth, or do anything to be viewed positively by ANYONE, or benefit his political career in any way..

your assumption makes ZERO sense..
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Old 09-18-2018, 01:53 PM
 
3,518 posts, read 3,652,346 times
Reputation: 10278
Quote:
Originally Posted by wase4711 View Post
and, what would he gain by doing such an silly thing?
certainly not add to his wealth, or do anything to be viewed positively by ANYONE, or benefit his political career in any way..

your assumption makes ZERO sense..

You're under the assumption that democrat voters think , all they do is what they're told and to believe that they will be taken care of if they vote democratic. Of course , we can't deny that the teachers and public union folks aren't being taken care of. While the rest of us are taken to the cleaners.
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Old 09-18-2018, 01:56 PM
 
18 posts, read 10,761 times
Reputation: 28
Quote:
Originally Posted by Liledgy View Post
Yes, I believe that’s what Rauner wanted to do, he certainly didn’t want to pay any bills! Bankrupt Illinois and walk away without paying contractors venders, retirees, etc.
You will learn real quick that JB won't save retirees or state vendors either.
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Old 09-18-2018, 03:44 PM
 
Location: Evanston, Lake Forest, and Wrigleyville, Illinois
2,497 posts, read 1,588,454 times
Reputation: 3033
Quote:
Originally Posted by Caglee View Post
Rauner's reform agenda will never work without a Republican backed legislature. Instead, he gets to exit and take the blame that the democrats truly deserve for the state of things, and the people of Illinois will be hoodwinked into voting for Pritzker who will not only continue the trajectory of failing policies but worsen them.

Voting for a democrat in Illinois in 2018 should almost be a punishable crime. It's *that* bad.
This is 100% accurate.
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Old 09-18-2018, 05:33 PM
 
12,205 posts, read 3,602,899 times
Reputation: 10277
My neighbor supports the Democrats and one of my other neighbors asked her why. She's a teacher. You can guess. But our property values are declining so much because of it. I wonder if she understands that?
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Old 09-18-2018, 06:17 PM
 
4,016 posts, read 2,983,293 times
Reputation: 3118
Quote:
Originally Posted by Grlzrl View Post
My neighbor supports the Democrats and one of my other neighbors asked her why. She's a teacher. You can guess. But our property values are declining so much because of it. I wonder if she understands that?
No need to pick on the teachers.
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Old 09-18-2018, 09:11 PM
 
18 posts, read 10,761 times
Reputation: 28
Quote:
Originally Posted by damba View Post
No need to pick on the teachers.
They will be picked on big time when the money runs out and they are laid off.
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Old 09-19-2018, 09:39 AM
 
997 posts, read 581,604 times
Reputation: 823
Quote:
Originally Posted by Grlzrl View Post
My neighbor supports the Democrats and one of my other neighbors asked her why. She's a teacher. You can guess. But our property values are declining so much because of it. I wonder if she understands that?
Teachers contribute 9.3% of their income to retirement, they expect the state to contribute an additional 8.3%. The teachers don’t expect the state to contribute an additional 6.2% so they can receive social security like everyone else.
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Old 09-19-2018, 01:22 PM
 
28,461 posts, read 76,383,298 times
Reputation: 18546
Default Apples vs ant droppings...

Quote:
Originally Posted by Liledgy View Post
Teachers contribute 9.3% of their income to retirement, they expect the state to contribute an additional 8.3%. The teachers don’t expect the state to contribute an additional 6.2% so they can receive social security like everyone else.

How in the world are you STILL equating the lopsided Illinois pension schemes to Social Security? Are you truly that blind to which system is too good to make any financial sense?!?

Show me a teacher that is seeing precisely 9.3% deducted from their individual paycheck and I'll show teachers in adjacent districts where the required sum is coming directly from the district. http://www.chicagotribune.com/news/c...823-story.html In terms of how the district has to contribute to FICA it probably is not a bad deal. Each district negotiates a separate contract -- the net effect of how the contribution is reflected in terms as salary calculation AND ultimate pension benefit / system liability is made clear by this document from the CTU -- https://www.ctunet.com/blog/text/Pen...ick-Up-FAQ.pdf
Quote:
...employees will be receiving a pension on an increased base pay will therefore accumulate more in the funds and receive slightly higher benefits upon retirement due to this change.
Note: I am former teacher, I am entitled to the pension I've earned, I am not grinding any axe or doing anything other than making clear how benefits are calculated. The system agrees to give Tier 1 participants 75% of the average of 4 highest consecutive years salary in the 10 years preceding retirement without limit; Tier 2 participants are also eligible for 75% of the average of of 8 highest consecutive years salary in the 10 years preceding retirement capped at $112,408 in 2017. Tier 1 pension benefits also grow at 3% annually for any retiree 61 or older, fully compounded while Tier 2 benefits are limited to 1/2 of the CPI subject to a 3% cap for those 67 or older. The effective maximum Tier 2 Max pension is thus $80,100.00 in 2017 BUT it will grow at least by half of CPI annually. https://www.ctpf.org/tier-1-vs-tier-2-pensions

The difference is not just 9.3% vs 6.2%, it is an entirely different kind of thing. Social Security will result in a FRACTION of the pay out as the antiquated and utterly unsustainable make believe baked-in the Illinois fantasy math! Even if the state kicked in enough to get the total per participant contribution up to 17.6% that is still not a fair comparison to the returns on the combined 12.4% employee / employer system of Social Security.

The formula for how Social Security benefits are calculated is COMPLETELY different -- https://www.fool.com/retirement/2018...benefit-f.aspx
Quote:
The formula uses your 35 highest years of earnings up to the Social Security taxable maximum to determine your AIME. The calculation is done by adding all 35 years of indexed earnings together, dividing by 35 to find your annual average
The longer time span means virtually nobody has much of a "plateau" compared to the super short 4 year Tier 1 period that basically invites massive larding up with questionable pay spikes. The SS cap is currently $127k but at recently as 2006 was under $100k -- https://www.fool.com/retirement/2017...ble-earni.aspx Bottom line: In no case will Social Security ever close to even 40% of one's salary, as the MAXIMUM benefit will not exceed $30,500 -- https://www.nasi.org/learn/socialsec...mpare-earnings

The ENORMOUS difference is precisely why there are HUNDREDS OF BILLIONS of liabilities in the Illinois pension scheme!

The further FACT that participants who are having their pension pick-up covered by the district have MORE CASH to spend or invest while folks who have the 6.2% deducted from their paycheck NEVER get to spend or the invest that money ought to drive home who is really getting a better deal...
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Old 09-19-2018, 06:05 PM
 
997 posts, read 581,604 times
Reputation: 823
I’m comparing the states contribution to retirement to the that of a private sector employer. My former employer contributed far more on my behalf than what the state does. 6.2% for social security, dollar for dollar match up to 6% of your income (including overtime), plus a fully funded (by Com Ed) defined benefit pension. Unreduced at age 57, 3% reduction for every year you took it earlier than 57 (had to be 50 years old). A lineman/crewleader/troubleman retiring today at 57 with 35 years of service gets $87000 a year! We have a cola provision to but it isn’t automatic, Plus the 401k, retiree medical, etc.
You know better than I that many employers in the city take much better care of the here employees than com ed does. The states contribution (which all you right wingers think is to generous) doesn’t even come close to what major employers contribute to there own employees. Oh, and my pension was based on my high 3 years out of last 10, better than the states high 4 years. So your wrong on that too!
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