Highest pension in California is $ 418,608 (Palmdale, Oroville: school district, closing, compensation)

[Finper]

Originally Posted by Tulemutt

Then nearly every state in the union is ... ‘effed ... because almost every state funds their pensions through similar investments. And, California’s underfunded portion ratio is roughly middle of the pack compared to all states. But good news for California is the state’s economy is gangbusters ahead of all other states which means the ability to earn to pay unfunded portions is far greater ... than any other state.

Sorry to disappoint you, Finper.

Why would I be disappointed? I’ve never been in a union and was curious how it works. And Ca economy was gangbusters but not any more thanks to Grusom

[Tulemutt]

Originally Posted by Finper

Why would I be disappointed? I’ve never been in a union and was curious how it works. And Ca economy was gangbusters but not any more thanks to Grusom

Any positive account of California disappoints you Finper. And the California economy remains the nation’s strongest. Newsom hasn’t been in office long enough to tear it down ... and there’s nothing on the horizon that says he will or that California will do anything but return to its juggernaut path as one of the world’s most productive economic engines.

Get over it. Move to Tennessee or Idaho or wherever now that Arizona has voted blue and broken your heart.

[Finper]

Originally Posted by Tulemutt

Any positive account of California disappoints you Finper. And the California economy remains the nation’s strongest. Newsom hasn’t been in office long enough to tear it down ... and there’s nothing on the horizon that says he will or that California will do anything but return to its juggernaut path as one of the world’s most productive economic engines.

Get over it. Move to Tennessee or Idaho or wherever now that Arizona has voted blue and broken your heart.

Interesting....

I asked another poster a simple question.... I await his/her answer

[NJ Brazen_3133]

So that is why the Govt has to prop up the financial markets. If not, there go the pensions. But why dont the govt just prop up the pension fund directly? Why the middle man? The middle man cannot even guarantee anything.

[mgforshort]

Originally Posted by Finper

What happens if stocks plunge?

I think when the stocks plunge the taxpayers share to cover pensions goes from a 30% to 40 or 50%. I'm not an expert. This is the main reason cities could be forced into bankruptcy.

I'd like to see a proposal where taxpayers must contribute to the pensions up to the exact amount the individual would receive from Social Security. The government employees should have a choice to remain in their private pension system or opt out and join Soc. Sec. like the rest of us.

Under no circumstances should taxpayers forced to give someone in retirement large sums of money, over 400 K, more than a president gets while working.

We are talking about bureaucrats who allowed millions wasted when prisoners filed for unemployment. Once the inquiry starts to get uncomfortable they retire at age 60 and collect millions themselves from their bloated pensions.

From the Bee:
In a new letter, a coalition of nine district attorneys urged Gov. Gavin Newsom to use emergency powers if necessary to stop payments that they think the state is still sending to prison inmates.

The DA’s have said the scheme, which they announced last week, involves tens of thousands of inmates and outside accomplices who bilked the state out of as much as $1 billion in federal funds meant for Californians who lost jobs and income due to COVID-19.

I don't mind paying police and fire fighters a generous salary because they are risking their life or health on the job. Nevertheless, once retired, they don't need $ 60-70-80 K or even more to live in comfort.

[V8 Vega]

A lot of cops never have a need to pull out their gun in their whole career. It is a gravy train job with good pay compare to many.
And whenever a opening opens for firefighters the line to apply is around the building. another real high pay gravy train job.

[Tulemutt]

Originally Posted by V8 Vega

A lot of cops never have a need to pull out their gun in their whole career. It is a gravy train job with good pay compare to many.
And whenever a opening opens for firefighters the line to apply is around the building. another real high pay gravy train job.

Says the guy who has zero idea / experience what first responders’ days involve ... Lmfao ....

Hey vega, get back to the thread after you spend even one week picking body parts out of wrecks, confronting emotionally distraught alcoholics, busting drug addicts stealing cars, being spit on and taunted by angry neighbors while arresting a teenage thief, looking over your shoulder ALL day every day knowing that there are crazies out there stalking for an assassination opportunity, herding schizophrenic homeless who wander into stores wearing urine soaked pants and having them put their filthy hands on your uniform sleeves, ... and writing report and report and report after report about every citizen contact / incident ... all while being socially isolated because you are a cop.

Cops have the worst job in the world. Send me back to Vietnam 10x before subjecting me to one year of that crap.

[Finper]

Originally Posted by mgforshort

I think when the stocks plunge the taxpayers share to cover pensions goes from a 30% to 40 or 50%. I'm not an expert. This is the main reason cities could be forced into bankruptcy.

I'd like to see a proposal where taxpayers must contribute to the pensions up to the exact amount the individual would receive from Social Security. The government employees should have a choice to remain in their private pension system or opt out and join Soc. Sec. like the rest of us.

Under no circumstances should taxpayers forced to give someone in retirement large sums of money, over 400 K, more than a president gets while working.

We are talking about bureaucrats who allowed millions wasted when prisoners filed for unemployment. Once the inquiry starts to get uncomfortable they retire at age 60 and collect millions themselves from their bloated pensions.

From the Bee:
In a new letter, a coalition of nine district attorneys urged Gov. Gavin Newsom to use emergency powers if necessary to stop payments that they think the state is still sending to prison inmates.

The DA’s have said the scheme, which they announced last week, involves tens of thousands of inmates and outside accomplices who bilked the state out of as much as $1 billion in federal funds meant for Californians who lost jobs and income due to COVID-19.

I don't mind paying police and fire fighters a generous salary because they are risking their life or health on the job. Nevertheless, once retired, they don't need $ 60-70-80 K or even more to live in comfort.

Thanks for the reply. That’s what I thought happened unfortunately and I totally agree with you.

[blockzilla]

Everyone cuts their own deal in life. Those jobs were just as available to you as they were to those folks. It's never been some big mystery that state and Fed jobs have pensions. If you wanted it, you should've gone down that path. If you wanted something different, then great. If it's the system itself you have issue with rather than the people themselves taking the pensions, then vote people into office that will change it.

I sympathize with the idea that bloated pensions are unhealthy for budgets, as well as targeting the frustration at the institutions themselves. For some of the petty stone throwing at the people themselves, well, it reeks of jealousy and you should've gone out and gotten one of those jobs yourself.

[mgforshort]

In the nearby town of Oroville a fire station is closing on Dec. 25th this year. There was a ballot measure, asking residents to raise a $ 60 extra prop. tax to support this station. Our property taxes go up by 2% every year and the residents voted it down, because they know next year it could be something else and they are tired of the constant whining that there aren't enough taxes for services. If the money was available to support this fire station 2-3-6 years ago where is the money now?

The bloated pensions are killing jobs and services.