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Old 01-11-2016, 12:49 PM
 
Location: Central IL
15,235 posts, read 8,527,906 times
Reputation: 35667

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Quote:
Originally Posted by ohio_peasant View Post
Good point!

At the Federal level, the "new" retirement system ("FERS", started in 1983) is in most circumstances an annual pension of 1% of "average of high 3" salary-years, times the number of years of service. So an employee retiring after a 30-year career, earning $100K in his/her final years, would receive an annual pension of $30K. That's a nice cushion against the vagaries of life, but isn't exactly a lavish retirement. Contrast that with the earlier system, that paid ~2%/year times number of years of service.

Most federal retirees with whom I'm familiar started working before 1983, and I don't anticipate a substantial FERS retirement-wave until around 2020 or so. So current and near-future retirees are OK. But those who started in the mid-1980s would have been too early in their investment-career to have strongly benefited from the stock run-up of the 1980s and 1990s. Just as they reached peak earning years, in the 2000s, the stock market entered a protracted period of oscillation and (in the long run) stagnation. It is these impending retirees, which is to say the younger baby-boomers, who will feel the brunt of the penalty for being unsuccessful investors - even if they were consummate savers.
Thanks for clarifying that the market behavior over the decades has certainly impacted the growth of any retirement savings - even big savers aren't getting as much bang for their buck as the earlier Boomers. You can't ALWAYS blame the victim and be correct! There is at least a bit of "the luck of the draw" and those who are so advantaged would do well to remember that before denigrating others as not properly planning.
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Old 01-11-2016, 12:52 PM
 
Location: Central IL
15,235 posts, read 8,527,906 times
Reputation: 35667
Quote:
Originally Posted by TuborgP View Post
Depends on the job they have. There are former California teachers in the forum with pensions in excess of 60k. If married to a similar the couple would reach that 120K level. Which may seem like a lot to some but not so much to others with similar backgrounds and profiles who benefited from their services. The problem is that many are willing to pay the benefits needed to recruit and retain top public service employees. Others could care less and the nanny state requires in many cases comparable pay and services for all regardless of the communities served interest level.
Remember as well that CA in general is high COLA. And teachers are relatively underpaid compared to many corporate/tech positions. I'm not saying they aren't doing okay...but they aren't exactly making out like bandits either!
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Old 01-11-2016, 12:56 PM
 
Location: Jamestown, NY
7,841 posts, read 7,329,858 times
Reputation: 13779
Quote:
Originally Posted by NewbieHere View Post
Who knows? I would say twisting the truth is more accurate, for the sake of discussion. Yes I'm sure you would have said others people have problem, in fact I'm anticipated this comment.
I think they dumped tons of work, because she could do a lot of things for low pay. It turned out even some higher level people didn't do it right. Temper flared, my sister is not known for withholding discord. In other words, she doesn't kiss butt well.
By the way I read around here in the last few months, it doesn't sound like she is the only one with other issues. Especially when my comments don't agree with yours.
My guess is that that public sector job won't be the last one your sister gets axed from. Sorry, but employees who don't get along well with others get shown the door quickly.

Oh, and generally, public employee salaries are matters of public record. You can probably go to the California state website and find the announcements for job openings that include the salary ranges. With a FOIL, you can even get employees' actual salaries.
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Old 01-11-2016, 01:38 PM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by 2sleepy View Post
And I'm sure she had that trait before she went to work for the state, which just proves my contention. My son told me about a CPA they hired several months ago. She complained non-stop, when she proved herself incapable of learning the job she turned nasty and went after my son claiming he wasn't training her, so a supervisor took over the training and 2 weeks later she got fired. Those are the kinds of employees that low wages attract, problem children and inexperienced recent college grads. I rest my case.
Wow, my sister didn't do complain non-stop, she was much smarter than the rest, they were slow. That's why they dumped tons of stuff on her, what was supposed to be a mid level manager. She was not fired within 2 weeks, but rather when they decide after one year whether to renew her. I'm sure you I'll find way to deem her a problem. She is no problem children than you are, blame the victim mentality. She has been working for 40 years and been senior Level director any many private companies, except the hours were hard and she took a diffrerent route. I too rest my case.
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Old 01-11-2016, 01:41 PM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by Linda_d View Post
My guess is that that public sector job won't be the last one your sister gets axed from. Sorry, but employees who don't get along well with others get shown the door quickly.

Oh, and generally, public employee salaries are matters of public record. You can probably go to the California state website and find the announcements for job openings that include the salary ranges. With a FOIL, you can even get employees' actual salaries.
That maybe her weakness but it doesn't mean she has never been successful in the private sector. She has been working for 40 years and has been senior level director at many private companies and that's why they hired her. Getting along with other employees doesn't mean doing nothing related to the job and just replying, yes sir, no sir. Sorry my husband knows this too well. The IT group his work would have been fired if they were in private companies. It reminds me of the health care fiasco.

She has friends who work for the state and did nothing, goof off at work, they even told her that so she thought she tried her luck.
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Old 01-11-2016, 01:57 PM
 
39,257 posts, read 20,360,961 times
Reputation: 12751
Quote:
Originally Posted by stevek64 View Post
My experience has been that many people see the end result and not think about the decades of planning, practice, sacrifice, and work that someone put into in making that goal happen.
Quote:
Originally Posted by Travelassie View Post
So true. Or they don't want to hear about those decades of planning, hard work and sacrifice, preferring to believe, I guess, that it was all dropped magically into your lap because you were lucky.
Funny, that's the very mindset that is being played by our politicians to to demonize people who invested in themselves and got a college education so they are paid more and to gain support from the people who didn't do that to raise taxes.
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Old 01-11-2016, 02:05 PM
 
39,257 posts, read 20,360,961 times
Reputation: 12751
Quote:
Originally Posted by NewbieHere View Post
Who knows? I would say twisting the truth is more accurate, for the sake of discussion. Yes I'm sure you would have said others people have problem, in fact I'm anticipated this comment.
I think they dumped tons of work, because she could do a lot of things for low pay. It turned out even some higher level people didn't do it right. Temper flared, my sister is not known for withholding discord. In other words, she doesn't kiss butt well.

By the way I read around here in the last few months, it doesn't sound like she is the only one with other issues. Especially when my comments don't agree with yours.
I never had a problem holding a job and I didn't kiss butt either. Maybe it's how she disagree's. If you don't agree with something it should be discussed (with all supporting documentation) and it should never get to the point that tempers flair.

I remember being the new girl and there was this girl who it seemed everyone tiptoed around. I asked why and they said wait until you see her temper.. and warned me that I will see it. I refused to tip toe and we got along fine but one day I was on the receiving end of her temper tantrum and in front of everyone to which I calmly showed her "in a split second" why she was wrong. Everyone just smirked, she made a fool of herself and she quickly the room. She never flared up at me again. Yelling and spitting does no good.
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Old 01-11-2016, 02:09 PM
 
29,779 posts, read 34,867,277 times
Reputation: 11705
Quote:
Originally Posted by reneeh63 View Post
Remember as well that CA in general is high COLA. And teachers are relatively underpaid compared to many corporate/tech positions. I'm not saying they aren't doing okay...but they aren't exactly making out like bandits either!
Agreed, but when they retire and transplant if they do they could score a major Bada Bing!
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Old 01-11-2016, 04:35 PM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by petch751 View Post
I never had a problem holding a job and I didn't kiss butt either. Maybe it's how she disagree's. If you don't agree with something it should be discussed (with all supporting documentation) and it should never get to the point that tempers flair.

I remember being the new girl and there was this girl who it seemed everyone tiptoed around. I asked why and they said wait until you see her temper.. and warned me that I will see it. I refused to tip toe and we got along fine but one day I was on the receiving end of her temper tantrum and in front of everyone to which I calmly showed her "in a split second" why she was wrong. Everyone just smirked, she made a fool of herself and she quickly the room. She never flared up at me again. Yelling and spitting does no good.
Good for you. Some people can and some people can't. I'm a bum all my life and I never had problem holding a job either. People who intimidate me, get the same thing back, even my boss. Everybody is different. But it's certainly a stretch for other posters to say she has issues immediately. If my sister has issues then there literally millions of other people have issues. People at the work place know who to pick on and who not to pick on.
Maybe because she is a single woman, they figure they can pick on her. Others have other people to rely on.
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Old 01-11-2016, 07:05 PM
 
37 posts, read 24,865 times
Reputation: 44
Default Lifestyle

I know many IT workers who joined the public sector in their 30s and 40s for lifestyle reasons. They wanted a family or to spend time with the family. Or just grew tired of long hours and not much time off. When young maybe money seems more important but somewhere in the 30s maybe you think you'd rather do other things then be in the office days, nights and weekends.

Pensions are great but truth be told over the long term of a 40-45 year career you'd have more saving 20% of your salary every week and investing in 401k, IRA, etc in the SP500
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