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.
What was really bad under Obama (333 rounds of golf) has gotten worse under Trump. I just wish Obama hadn't set the bar so high to begin with.
I agree. When I go on any hiking trips I pay my own way. Maybe Obama and Trump should have had to pay for it out of their pocket, just like the average American.
Correct. They should do a 401k like most everyone else.
They do have a 401K plan.
Additionally, the pension that federal workers now have is that they pay approximately 4% of their salary into a pension fund. When they retire, they get 1% of their base salary for every year worked.
So, for ease of math, if you worked 20 years and your base salary was $100,000, you would receive $20,000 per year for your pension. Some of that pension you paid for in salary deductions so it's not totally "free."
That's just one type of government worker. State workers most likely receive different benefits packages.
I hope you are just referring to Congress and not the regular federal worker. Or please, do tell me about "the pension" that's so wonderful. Maybe it's state employees?
Congress and federal employees share the same retirement system
Additionally, the pension that federal workers now have is that they pay approximately 4% of their salary into a pension fund. When they retire, they get 1% of their base salary for every year worked.
So, for ease of math, if you worked 20 years and your base salary was $100,000, you would receive $20,000 per year for your pension. Some of that pension you paid for in salary deductions so it's not totally "free."
That's just one type of government worker. State workers most likely receive different benefits packages.
It's next to impossible to calculate what an employee will receive after retirement. That means the tax payers are writing a blank check if the money deducted is less than what is paid out. Government workers need to be on a regular 401k plan.
I remember when nobody wanted to work for the federal government because the pay was behind private industry. Now everyone feels they get too much. lmao
It's next to impossible to calculate what an employee will receive after retirement. That means the tax payers are writing a blank check if the money deducted is less than what is paid out. Government workers need to be on a regular 401k plan.
I was about to say the same thing. Don't promise something to the federal worker and if there is no money to give it years down the line, you expect the tax payer to spring up for it.
Let that 4% also go to a 401K and let the market decide what they receive at retirement. Just like rest of us.
Did it run out after x years or do you know when you'll die?
Doesn't run out until I die, then my wife gets 55% of what I got. Been retired 10 years, have already collected more than a million dollars from defined benefit federal pension.
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.
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.
