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I don't think it is the amount of govt pensions, it is the timing of them. We laugh at the people in France protesting over having to work until 62 instead of 60 yet here we are with govt workers who are often able to retire in their 50s.
Govt workers should certainly get a pension that additional financial security is a just reward for their public service, but how about working longer like everyone else.
You do realize that the longer these workers are employed the longer they will be paid at the HIGHEST WAGE SCALE based on their pay grade and experience?
What I said was that they wouldn't retire on a "full pension" right now, and by "full" I mean a retirement that is not reduced by failure to meet ALL the minimum requirements. A FERS employee is eligible for retirement based on age and years of service, but if the age is less than 62, he doesn't get any Social Security. Additionally, if he retires prior to age 62, the small annuity he gets is based on 1% of a salary/years of service calculation; if he retires after age 62, the percentage is 1.1%.
Social security is not part of the pension. It is considered to be part of an income stream in retirement like everyone else but has no impact on whether someone qualifies for the full FERS pension.
Also, the 1% is the full pension. Retiring later to get more doesn't mean it isn't. They have a minimum age for full pension, and a minimum years of service for full pension. Those can be reached at 55/56/57.
So, a lot of you think Federal payrolls are overrun with six figure salaries. I worked in a quasi-federal govt. agency and only Asst. Commissioners and better got close to that. By far most were in the mid 20's and 30's. What percent of a large bureaucracy say, 7,000 head would be earning in the six figures? 1? 2? The savings to be realized by knocking down the several hundred thousand Federal six figure salaries countrywide by 10, 15 or even 50% would be in the low billions? Our country is on the hook for trillions and you have your knives sharpened to prick a few aspiring millionaires for their lunch money. Shame on you. We have billionaires that have the 2 or 3 billion that you would save be eliminating those positions outright as spare change, forget about lunch money. Am I missing something?
H
Yes. I doubt a lot of people think Fed payrolls are overrun with six figure salaries, so you're arguing against a nothing.
You do realize that the longer these workers are employed the longer they will be paid at the HIGHEST WAGE SCALE based on their pay grade and experience?
Yes I understand that. Social security works the same way, I can get full benefits at 67, but get higher ones if I'm willing to wait longer up to age 72.
That doesn't mean I don't get full benefits at 67, nor does it mean most people wait until 72.
You do realize that the longer these workers are employed the longer they will be paid at the HIGHEST WAGE SCALE based on their pay grade and experience?
Are you saying it's advantageous to the taxpayer for them to retire, so they can be replaced by a lower-paid worker?
Yes. I doubt a lot of people think Fed payrolls are overrun with six figure salaries, so you're arguing against a nothing.
Really? Then why this thread? Who is the stupid one here? Why would, or should we, be thinking about cutting Fed salaries if they are not six figure salaries?
over ½ of them need the axe and totally off the tax payers dole.
Then they will come and take your job
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