U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-01-2017, 06:03 PM
 
Location: New Oxford, PA
121 posts, read 59,508 times
Reputation: 474

Advertisements

New York State has taken steps to counteract the pension dilemma, and as a result is 94.5% funded, as is presented in the article referenced by the OP. Members in the latest tier (Tier 6) will contribute to the Pension Fund throughout their entire career, and retire with a pension equalling 50% of their base pay, regardless of any overtime earnings.
Reply With Quote Quick reply to this message

 
Old 09-01-2017, 08:58 PM
 
Location: Saint John, IN
11,043 posts, read 4,015,792 times
Reputation: 13561
Quote:
Originally Posted by Tall Traveler View Post
I wonder why Minnesota had such a huge drop?

If I were dependent on a pension from:
New Jersey
Kentucky
Illinois
Conecticu
Colorado

I'm really nervous...all under 50% funded and NJ only 30%! At some point, the roosters will come home to roost.


Illinois is in pension debt by $203 Billion!




https://www.illinoispolicy.org/repor...s-in-illinois/
Reply With Quote Quick reply to this message
 
Old 09-01-2017, 09:15 PM
 
7,185 posts, read 2,764,616 times
Reputation: 3172
Quote:
Originally Posted by NSHL10 View Post
Are you paying for the full amount of your pension? I haven't heard of any govt employee who has to date. Everyone I know pays a portion of it with the rest funded via tax payers most of whom do not get a govt pension.

My local taxes most certainly pay for pensions for local govt employees. Do you have no local govt employees where you live?
Back when I was actively working for the federal government, I paid income taxes. I contributed to my pension. I paid my share of the health insurance premiums. I figure that all the taxes that I paid each year went back towards funding the government's share of my health insurance and my pension, and paid part of my salary the following year. Worked really well for me, since I really didn't want my tax money to pay for the wars or nuclear stuff.

Even now, I pay income taxes, and I feel like the money I put in this year comes back to me next year. Win-win. So, those who don't want any part of funding federal retirees... they can go pay for wars while all us retirees pay our own way (at least partially).

If you subscribe to the idea that your own tax contribution pays for just the things you want done, and none of your money pays for stuff that other people want done... you can relax and feel better about paying taxes. It really is that simple. You pay for wars, someone else will pay for trump's trips to his resorts, someone else will pay for the arts, someone else will pay for the pensions.... and on and on. And, everyone will be happy.
Reply With Quote Quick reply to this message
 
Old 09-01-2017, 09:18 PM
 
7,185 posts, read 2,764,616 times
Reputation: 3172
Quote:
Originally Posted by galaxyhi View Post
Those who defend their government, local state or federal, HAVE a pension that I I I I and other taxpayers PAY for; and MANY, like me, whom like me, at age 54, have NEVER had a pension. From anywhere, any company, any employer.

So quit trying to defend yourselves.

Do you REALLY think I I I I ought to be paying taxes to fund YOUR retirement PENSION?????

You've bought goods in my retail store, ate at the restaurants I cooked in, stayed at the hotels I've worked at, and NEVER ONCE did you pay a penny for me to have a PENSION.

And I've paid into SS so I can have it, and much like YOU government employees, SOME TAXPAYERS will foot the difference between what I PAID into SS, and what I will get out of it. AND I'm being screwed by getting 1/3 LESS in SS based on the year I was born, compared to my OH, who was born 4 years earlier and is entitled to 1/3 MORE than I simply based on year of birth, Even though I am CLEARLY in the "Boomer" generation.

If you get your FAT government pension AND are eligible for SS, you get double from taxpayers. If not, your fat pension us MORE that what SS allows for me.

So to someone who HAS NEVER had a pension, you're the fat cat living off taxpayers, IF the pension fund doesn't hold up on it's own, even IF you may have paid taxes too.

AND MANY more across this country HAVE NO PENSION, than have a cushy well paying govt job, with govt Health Care and govt pension. At LEAST YOU get something, and meanwhile the fat CEOs have cut the rest of us SHORT in Both PAY and NO PENSION.

So don't cry in your coffee to me.


So... you never got a job with a pension plan. Bummer.
Reply With Quote Quick reply to this message
 
Old 09-01-2017, 10:48 PM
 
26,592 posts, read 52,423,706 times
Reputation: 20444
To understand the sentiment it might simply be a numbers game... as a percentage, few receive government pensions compared to the number that don't...

Maybe 800 people apply for each paid academy position that opens in local police departments... there is no shortage of those interested...

Pensions are changing a lot... even the Union has agreed to changes which mean new hires get less.

Few criticize the military for those pensions those that served earned... I've often wondered why and maybe because military is funded nationally and pensions tend to me much smaller than local government... like 30 year in the Military Police compared to 30 years working for a SF Bay Area city...
Reply With Quote Quick reply to this message
 
Old 09-02-2017, 12:33 AM
 
166 posts, read 94,065 times
Reputation: 334
Quote:
Originally Posted by Ultrarunner View Post

Pensions are changing a lot... even the Union has agreed to changes which mean new hires get less.


fwiw, in the last ten years the military retirement system and the federal civilian pension system were changed.
Reply With Quote Quick reply to this message
 
Old 09-02-2017, 12:58 AM
 
Location: Wasilla, AK
7,330 posts, read 4,193,442 times
Reputation: 15985
Quote:
Originally Posted by timberline742 View Post
We could get far far more competitive if we moved to single payer healthcare. The savings and improved results and coverage would be immense, and companies would no longer have to pay for health plan administration which would result in savings instantly making them much more competitive.
So explain to the rest of us why California and Vermont both failed to pass single payer legislation due to the immense cost involved.
Reply With Quote Quick reply to this message
 
Old 09-02-2017, 01:13 AM
 
Location: Wasilla, AK
7,330 posts, read 4,193,442 times
Reputation: 15985
Quote:
Originally Posted by galaxyhi View Post
Those who defend their government, local state or federal, HAVE a pension that I I I I and other taxpayers PAY for; and MANY, like me, whom like me, at age 54, have NEVER had a pension. From anywhere, any company, any employer.

So quit trying to defend yourselves.

Do you REALLY think I I I I ought to be paying taxes to fund YOUR retirement PENSION?????

You've bought goods in my retail store, ate at the restaurants I cooked in, stayed at the hotels I've worked at, and NEVER ONCE did you pay a penny for me to have a PENSION.

And I've paid into SS so I can have it, and much like YOU government employees, SOME TAXPAYERS will foot the difference between what I PAID into SS, and what I will get out of it. AND I'm being screwed by getting 1/3 LESS in SS based on the year I was born, compared to my OH, who was born 4 years earlier and is entitled to 1/3 MORE than I simply based on year of birth, Even though I am CLEARLY in the "Boomer" generation.

If you get your FAT government pension AND are eligible for SS, you get double from taxpayers. If not, your fat pension us MORE that what SS allows for me.

So to someone who HAS NEVER had a pension, you're the fat cat living off taxpayers, IF the pension fund doesn't hold up on it's own, even IF you may have paid taxes too.

AND MANY more across this country HAVE NO PENSION, than have a cushy well paying govt job, with govt Health Care and govt pension. At LEAST YOU get something, and meanwhile the fat CEOs have cut the rest of us SHORT in Both PAY and NO PENSION.

So don't cry in your coffee to me.


I don't need to defend anything. I did my time and now I have a government pension and a military pension. My wife also has a government pension. In due time we'll both collect social security since we both paid into it. If that makes us fat cats, so be it. But it sure is nice having a five figure monthly income now that we're retired.
Reply With Quote Quick reply to this message
 
Old 09-02-2017, 07:02 AM
 
4,102 posts, read 7,813,627 times
Reputation: 5714
Quote:
Originally Posted by Willistonite View Post
You have to remember most state employees and teachers get paid less then the normal pay rate in a state for their education status. Pension is a big incentive to work in the public section vs. private. Now I will say their are many jobs that should not be paying a pension in the state. Some should be similar to a 401K based retirement. Every state has hard jobs to fill competing with the private sector, those need a pension based retirement. It needs to looked into for sure to shore up these dismal percentages is some states.
This hasn't been true for decades.

Editorial, Aug. 13, 2017: California taxpayers pay high cost for public employee pensions

Quote:
Who’s looking out for the overburdened California taxpayer?

Not our state and local government.

Are we overreacting? Well, according to a report released last week, based on salary and pension records, the number of retired public employees in the CALPERS retirement system with annual pensions of $100,000 or more grew 63 percent since 2012.

And here’s why: Public employee salaries have grown exponentially in recent decades, dwarfing the meager wage gains of the working stiffs in the private sector.
http://www.sfgate.com/bayarea/articl...s-10911932.php

Quote:
Last November, a nonprofit called Transparent California reported that a BART janitor named Liang Zhao Zhang made $271,000 in a single year — over $162,000 of that in the form of overtime.
Now, a KTVU investigation into Zhang's hours and pay revealed that he disappears into a storage closet at the Powell St. station, sometimes for hours a day.
Things will never change until public employee unions run out of people to tax. Their favorite source of other people's money is property taxes. They know people need a roof over their head. So they attack property taxes regularly and rigorously in my state. Additionally, they push for more fees and sales and gas taxes in the name of the children, transportation, public safety. The truth is most of that money will pay for public employees' sky-high salaries, benefits, and pensions.

Public employee unions here contribute enormous amount of money in the election process to get their politicians elected who in turn repay the debt by passing laws favorable to public employee unions. It's a vicious cycle that will continue to rob taxpayers.

Last edited by davidt1; 09-02-2017 at 08:15 AM..
Reply With Quote Quick reply to this message
 
Old 09-02-2017, 08:08 AM
 
26,592 posts, read 52,423,706 times
Reputation: 20444
^^^ These are the stories that make the Bay Area news and shape opinion...

My friends Mom always worked as a housekeeper... a friend told her BART is hiring to clean BART cars and she was hired...

She is now retired and says the luckiest day of her life is when a friend told her to apply at the transit agency...

Her pension is much more than her friends cleaning hotel rooms get as pay and said the job is easier... 60k retirement...

To say government sector employment equals low pay has not been the case for a long time for many Bay Area jobs...

BART special assessments are on my property tax bill... Hilton Hotels can't tax my home.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top