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Because pensions don't belong to you. You have no control over them, and you have to just trust that the promises made to you in the past will be fulfilled.
Nothing like being a total dependent in your old age, because your ideology told you it was better to let other people make all your crucial decisions for you.
The pensions do belong to the workers as they were negotiated. The company cannot stick the pension money in their pocket. Did you know that there are laws prohibiting them from doing that? What exactly are you talking about regarding me being a total dependent? Seriously man, I worked for my home and my pension and I been paying in to SS since I was 16 years old. Do you intend to work until your 80 years old while refusing to collect your Social Security or are you going to be a dependent too?
They were public employees. They had ridiculously high pensions -- it's the people retiring on social security you should feel sorry for, not these ones where they expected to have the same high wages when retired at age 50 as they had when having to show up to work.
To be fair LOCAL gov't pensions are usually NOTHING like the fed retirement program.
In MANY local pension plans the employees pay either NOTHING or very little into their plans.
Since 1984, I believe, when the fed changed the retirement system, fed workers don't get very much in pension payments.
The pensions do belong to the workers as they were negotiated. The company cannot stick the pension money in their pocket. Did you know that there are laws prohibiting them from doing that? What exactly are you talking about regarding me being a total dependent? Seriously man, I worked for my home and my pension and I been paying in to SS since I was 16 years old. Do you intend to work until your 80 years old while refusing to collect your Social Security or are you going to be a dependent too?
If the pension was saved in a "lockbox", we wouldn't need this conversation. City officials spent the money a long time ago, just like they did with SS money.
What are you going to do when government spends your money? Use government to stop them?
If the pension was saved in a "lockbox", we wouldn't need this conversation. City officials spent the money a long time ago, just like they did with SS money.
What are you going to do when government spends your money? Use government to stop them?
Ill assume you missed this part of the discussion. I`m talking about MY pension from a private employer who maintains a well funded pension plan. I understand that govt. employees nearly everywhere are going to take some sort of hit. Some halfwit ( a Mitt wannabe) said because I collect a pension and I`ll collect SS in a few years, I`m dependent on someone else in my old age.
The pensions do belong to the workers as they were negotiated.
You're confusing "contractual obligation" with "ownership", which is NOT the same.
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The company cannot stick the pension money in their pocket.
So? you STILL don't own it.
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Did you know that there are laws prohibiting them from doing that?
Irrelevant.
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What exactly are you talking about regarding me being a total dependent?
You do not own, nor do you control ANY of your future financial funding. You rely on SOMEONE ELSE to fulfill a promise that could evaporate overnight.
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Seriously man, I worked for my home and my pension and I been paying in to SS since I was 16 years old. Do you intend to work until your 80 years old while refusing to collect your Social Security or are you going to be a dependent too?
I do not expect Social Security to exist when I get there.
If the pension was saved in a "lockbox", we wouldn't need this conversation. City officials spent the money a long time ago, just like they did with SS money.
What are you going to do when government spends your money? Use government to stop them?
Even better, if the funds were in HIS account, under HIS control, then there'd be no dependency at all. If he's s tupid and can't manage his own money, then he's to blame. However, if the fund manager is incompetent or corrupt... He could be penniless with no meaningful recourse.
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