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Old 04-05-2015, 01:39 PM
 
Location: Floyd Co, VA
3,416 posts, read 5,141,639 times
Reputation: 7231

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They have already allowed private employer pension plans to cut benefits to CURRENT retirees so don't be surprised if they go after other groups too.'

Bill Number:
H.R. 83


Date Published:
Wednesday, December 17, 2014


In December 2014, Congress passed and President Obama signed into law the 2015 Omnibus spending bill, which included provisions that allow trustees of certain multiemployer plans to cut retirees’ pensions (part of the Multiemployer Pension Reform Act of 2014). Below is a summary of these provisions.


Link to full article:



http://www.pensionrights.org/issues/legislation/summary-pension-cutback-provisions-omnibus-spending-law


I've been retired for 10 years and could be facing a cut of over 83%. My pension fund says that if will probably take them a year to figure out just how much to cut so for now all I can do is live a super frugal existence and set aside as much money as possible. I stay at home, read, watch some DVD's that I own, etc. NO eating out at all, no unnecessary travel, etc. It's been 5 months since my last oil change and I've only put 1,000 miles on my car and that includes the 180 mile round trip to Costco that I make every 4 months or so. Very boring, but the pennies are mounting up and that helps somewhat to ease the stress of dealing with the unknown.
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Old 04-05-2015, 02:59 PM
 
336 posts, read 270,485 times
Reputation: 537
Quote:
Originally Posted by ABQ2015 View Post
I see what you are saying about the FERS pension starting at age 62 for those with at least 5 years of service but I think it implies that federal employees are not getting their pensions until age 62 which is not the case. Standard federal employees can retire at age 60 with 20 years of service and at a Minimum Retirement Age (MRA) based on DOB with 30 years of service. Generally the MRA is age 56 or 57. Those with at least 5 years but less than 20 years of service can retire at age 62. But Law Enforcement (LEO), Firefighters, and Air Traffic Controllers have mandatory retirement ages of 57 and 56 and are eligible for a pension at age 50 with 20 years of service or any age with 25 years of service. Also retired federal employees can receive a FERS supplement until age 62 to tide them over until eligible for Social Security. There are congressional proposals to terminate the FERS supplement for federal employees and the President has been receptive to this cut.
I meant to suggest that the standard civilian retirement rules for law enforcement, firefighters, etc., be applied to all veterans that serve more than five years. That would include the FERS benefit at age 50 with 20 years of service or any age with 25 years of service.

I fully expect Congress and the President to eliminate the FERS supplement for all other employees.


Quote:
Originally Posted by kiplingif View Post
@VAGeek, you really think that the new deduction will effect existing Federal employees and not just be grandfathered in?.
That is what the Republican budget (passed by the House a few weeks ago) says. It says that the FERS benefit cost of 12.7% shall be shared equally (50/50) by all Federal employees, not just new Federal employees. I doubt this President will sign the bill, but our next President (likely a Republican) probably will.

Quote:
Originally Posted by ABQ2015 View Post
The military has all sorts of rules to force retirement at an early age and I can't imagine that we want a bunch of 50 year old soldiers. And it seems very unfair to make people retire with 20 years at an early age but defer their retirement pay to age 62. Plus I am under the assumption that military salaries are much less than federal civilian salaries but with more benefits such as free medical and housing pay. But housing pay does not factor into their pensions (?). If there was no COLA (and there is no inflation factor added for civil service deferred retirement), their pension calculated at age 40-50 would be very small by age 62.
Civilian and military salaries are much closer than in years past. The military has implemented annual salary increases while civilian salaries increased 0% between 2010 and 2013 and 1% in 2014 and 2015. Of course, there would have to be an inflation adjustment just as there is now.

Last edited by VAGeek; 04-05-2015 at 03:08 PM..
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Old 04-05-2015, 03:03 PM
 
5,621 posts, read 8,559,617 times
Reputation: 7710
Quote:
Originally Posted by kiplingif View Post
@VAGeek, you really think that the new deduction will effect existing Federal employees and not just be grandfathered in?

@VJDAY81445, military members probably also wouldn't get 100% medical coverage with no cost out of pocket and 30 days paid vacation from day one anymore.
(I accidentally repped you ..... Didn't mean to)

ABOUT THAT MEDICAL CARE:
LOL!
(does "substandard" mean anything to you!?)

Paid vacation:


Yea, how many employers count against you the WEEKENDS and other days you don't work!?!

Go deploy away from your family for a year, you "earned" 20 days off (because you get charged for weekends)
If you want to actually you know.... Go see family or anything.


I like to point out what civilians have to be paid for jobs ANYTHING LIKE what the military does.... To say nothing of being able to quit, lifestyle, risk of death, Etc.


Clueless...
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Old 04-05-2015, 03:11 PM
 
Location: Forests of Maine
30,693 posts, read 49,482,998 times
Reputation: 19136
Quote:
Originally Posted by Themanwithnoname View Post
... ABOUT THAT MEDICAL CARE:
LOL!
(does "substandard" mean anything to you!?)
Medical care provided by medics with 6 weeks of training is certainly less 'standard' than care provided by college graduate 'doctors'.

However the OP here is retirees.

As a retiree, I am seen by 'doctors' [with college and medical school degrees].



Quote:
... Paid vacation:
I got 30-days of paid vacation 'time' for every year that I served. Many of those years I was not allowed to use them, but they did accumulate for me.

When I retired, I had 120 days saved up on the books. I took a month of leave, and then after that I signed out on 90-days of terminal leave.

But that is still Off-Topic here.
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Old 04-05-2015, 03:21 PM
 
Location: Great State of Texas
86,093 posts, read 72,556,082 times
Reputation: 27566
Quote:
Originally Posted by zugor View Post
They have already allowed private employer pension plans to cut benefits to CURRENT retirees so don't be surprised if they go after other groups too.'

Bill Number:
H.R. 83


Date Published:
Wednesday, December 17, 2014


In December 2014, Congress passed and President Obama signed into law the 2015 Omnibus spending bill, which included provisions that allow trustees of certain multiemployer plans to cut retirees’ pensions (part of the Multiemployer Pension Reform Act of 2014). Below is a summary of these provisions.


Link to full article:



http://www.pensionrights.org/issues/legislation/summary-pension-cutback-provisions-omnibus-spending-law


I've been retired for 10 years and could be facing a cut of over 83%. My pension fund says that if will probably take them a year to figure out just how much to cut so for now all I can do is live a super frugal existence and set aside as much money as possible. I stay at home, read, watch some DVD's that I own, etc. NO eating out at all, no unnecessary travel, etc. It's been 5 months since my last oil change and I've only put 1,000 miles on my car and that includes the 180 mile round trip to Costco that I make every 4 months or so. Very boring, but the pennies are mounting up and that helps somewhat to ease the stress of dealing with the unknown.

Not many people are acknowledging this. I saw it though and this sets a precedent for the future.
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Old 04-05-2015, 04:47 PM
 
290 posts, read 298,314 times
Reputation: 349
Quote:
Originally Posted by Themanwithnoname View Post
(I accidentally repped you ..... Didn't mean to)

ABOUT THAT MEDICAL CARE:
LOL!
(does "substandard" mean anything to you!?)

Paid vacation:


Yea, how many employers count against you the WEEKENDS and other days you don't work!?!

Go deploy away from your family for a year, you "earned" 20 days off (because you get charged for weekends)
If you want to actually you know.... Go see family or anything.


I like to point out what civilians have to be paid for jobs ANYTHING LIKE what the military does.... To say nothing of being able to quit, lifestyle, risk of death, Etc.


Clueless...
Thanks for the rep points. I joined the miitary right out of high school. Considering the benefits one gets for just a high school diploma or GED, it is a damn good deal. The question of whether or not an 18 year old is mature enough to make a decision and properly weigh all that goes into military service is a different one.

Where did I say anything about the quality of the medical care? I was just responding to the poster saying there should be changes to let people walk away from their military contract, etc....to counter-balance changes to their retirement pension. That if someone wants to decrease their obligation, they are going to get less in benefits as well. 30 days paid vacation along with federal holidays is a huge benefit whether you want to admit that or not..

If you go on a ski vacation and break your neck while active duty, you are going to get a military disability pension for life. That is why weekends one is on leave are charged as well. A person is in the military 24-7. You want that time off, you take the time off.

So, to summarize: I am not clueless, you can't follow a conversation, and you seem to lack the critical thinking skills to figure out why things work as they do. If you ever served, I sincerely hope you didn't already use up your GI Bill. All the benefits are laid out on the table before someone signs. Don't like the terms? Your own damn fault.
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Old 04-05-2015, 06:01 PM
 
950 posts, read 715,672 times
Reputation: 1615
Quote:
Originally Posted by kiplingif View Post
Thanks for the rep points. I joined the miitary right out of high school. Considering the benefits one gets for just a high school diploma or GED, it is a damn good deal. The question of whether or not an 18 year old is mature enough to make a decision and properly weigh all that goes into military service is a different one.

Where did I say anything about the quality of the medical care? I was just responding to the poster saying there should be changes to let people walk away from their military contract, etc....to counter-balance changes to their retirement pension. That if someone wants to decrease their obligation, they are going to get less in benefits as well. 30 days paid vacation along with federal holidays is a huge benefit whether you want to admit that or not..

If you go on a ski vacation and break your neck while active duty, you are going to get a military disability pension for life. That is why weekends one is on leave are charged as well. A person is in the military 24-7. You want that time off, you take the time off.

So, to summarize: I am not clueless, you can't follow a conversation, and you seem to lack the critical thinking skills to figure out why things work as they do. If you ever served, I sincerely hope you didn't already use up your GI Bill. All the benefits are laid out on the table before someone signs. Don't like the terms? Your own damn fault.

........."Don't like the terms ? Your own damn fault"......

and if any civilian employer offered the exact same contract as the military, it would be thrown out of court if the employer refused to accept the 2 weeks notice for quiting.

I never heard of a civilian employee being locked up for attempting to quit his job.
Many military people served brig time for attempting to.

Hard to have a conversation with some one who keeps argueing yet can not give me one example of a similar civilian employment contract that would hold up in court.

I'm still waiting !
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Old 04-05-2015, 07:33 PM
 
Location: Baltimore, MD
3,745 posts, read 4,222,137 times
Reputation: 6866
Quote:
Originally Posted by VJDAY81445 View Post
........."Don't like the terms ? Your own damn fault"......

and if any civilian employer offered the exact same contract as the military, it would be thrown out of court if the employer refused to accept the 2 weeks notice for quiting.

I never heard of a civilian employee being locked up for attempting to quit his job.
Many military people served brig time for attempting to.

Hard to have a conversation with some one who keeps argueing yet can not give me one example of a similar civilian employment contract that would hold up in court.

I'm still waiting !
You are right. There can be no real comparison and I've always thought to argue otherwise is silly.

No other employer can throw your butt into jail because you decided to sleep in one morning. No other employer can order you to return to work for them long after you have left that job for another.

Civilian employees do not surrender any significant individual rights upon accepting employment. Members of the military do. IMO, that sacrifice alone is sufficient to entitle our service members to better pay and benefits than that offered to civilians.
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Old 04-05-2015, 09:22 PM
 
5,621 posts, read 8,559,617 times
Reputation: 7710
Quote:
Originally Posted by Submariner View Post
Medical care provided by medics with 6 weeks of training is certainly less 'standard' than care provided by college graduate 'doctors'.

However the OP here is retirees.

As a retiree, I am seen by 'doctors' [with college and medical school degrees].





I got 30-days of paid vacation 'time' for every year that I served. Many of those years I was not allowed to use them, but they did accumulate for me.

When I retired, I had 120 days saved up on the books. I took a month of leave, and then after that I signed out on 90-days of terminal leave.

But that is still Off-Topic here.
Obviously retirement health care and vacation days are not all discussing retirees.

Also, without being deployed (and missing MUCH of family life/no comparison with civilian occupations) your limited to 60 days.


As you have noted before: your experiences in the Navy were very difference than others service.
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Old 04-05-2015, 09:45 PM
 
3,982 posts, read 5,769,052 times
Reputation: 4039
It's fairly simple, if you don't like the terms of what the military contract entails, don't sign it. Unless you get drafted, you really have no room to complain as it was your choice. There is also plenty of information out there for you to properly gauge your conscription. How anyone feels that their own choice somehow "entitles" them to better pay and benefits than a civilian is beyond me. Probably the worst thing we could do as a country is to detach the military mindset from the civilian more than we already have.
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