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.
In public workers defense (I’m not one) when they take a job the benefits and pension are part of why they take the job. A lot of these people are well educated and talented and have served us well when they could have made a lot more money in the private sector. It’s pretty crappy to now start complaining about the pension that was promised them when in reality it’s corrupt politicians who have misappropriated their pension funds most likely.
I worked for the Ky. Department of Transportation for 26 years. I didn't have one of those nice office jobs. I was out putting down 350 degree blacktop in 100+ degree weather, or salting and plowing the roads at 2 AM so people who needed to get to work could get there. Other than needing a job at the time, the benefits like a pension and paid sick and personal days were what I worked for. When I retired I was making just under $23/hr. Like most people, after bills, kids, and in my case, an ex-wife, it was hard to have much left over to put in savings or an IRA. I feel I worked hard for that pension and earned every penny of it.
"Personally in this day and age the way you get more money is unionizing", NOT always.
When I say more money I mean in a total package.pay health vacation sick days benefits etc. For most jobs it’s true. I know union guys pulling 40k more a year than I’m making. I’ve been out of the Union for 6 years now. Lots of private companies will screw employees over in a heartbeat. While unions aren’t everything to everyone they will make sure that the employer can’t mess with them on pay, vacations, benefits and has to treat you fairly. Lots of professions have unions backing them up. Nurses, cops , firefighters, trades, pilots, etc.
( I had a employer who was supposed to pay my health benefits. They stopped paying even though I was working full time. I got a letter saying that I’m about to lose my coverage. I called the hall and they got on the job. They got me my hours back. It took a while. This same employer blinded three of my paychecks. Btw I quit that job.
There are a few exceptions for entrepreneurs or some businesses but for the most part lots of huge corporations see employees as a number. It’s literally na is bs them mentality and there are a lot of abuses by management towards employees.
If unions are so bad why are Walmart and Amazon deathly afraid when employ start talking about organizing?
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,476,450 times
Reputation: 12187
They were started when there were few retirees and lots of younger workers paying into pensions but not taking out. Now there are lots of retirees but fewer workers paying in. Same thing happened to the American car makers, they gave people unsustainable pensions when the companies were new and once the workforce aged and shrunk they couldn't bear the weight.
I really think we'd be better off not doing any pensions but instead a substantial Universal Basic Income at a national level for people over 60.
Not envious, I got mine the old fashioned way. I'm rich and retired <60 yrs old. I just see how unfair it is to strivers who are trying to get to where I'm at.
Private pensions will not be restored due to globalism. They are dead for now.
More to the workers....nah, I have a better idea...don't become a worker at all, become an owner. If it didnt take me 20 yrs to figure that out, I'd be a top 1%'er, instead of a lowly top 2%'er.
Maybe the whole world ought to be unionized! When things get too bad for people in China, maybe they'll become more like the French and some 7 year old kid on a soccer field will be kicking Xi Jinping's head around. Dragging the rich out of their homes to the guillotine became something of a sport during the French Revolution.
You seem the be one of those people who are of the variety of "I got mine ...too bad for you". Just how much does a "lucrative pension" pay out per month in your mind? I want a dollar amount! I'd also be willing to bet that you didn't have a unionized work force in your little company. Oh no!!!! They're evil! So you just probably under-compensated all of your employees so you could reap all of the rewards.
If the revolution ever comes to Florida to reduce the disparity between the haves and have-nots, they won't be using a guillotine. You and the old lady will probably be dragged out of your presumably nice house and fed to the gators along with the grand kids. "We don't want any heirs to come snooping around in the future". France survived the French Revolution. I don't know if you will, if one comes to Florida.
Last edited by TheEmissary; 08-24-2020 at 04:15 PM..
As I understand it the Federal Government picks up 72% of pension funding for current employees. Both the Fed and employee pay SS taxes and there is a 401k like plan with matching.
Where did you hear that? The Fed pension plan was detailed earlier in the thread. 1% of your high three years average salary (not including overtime) times your number of service years. Fed employees pay into the OPM pension fund. I've never heard about the Fed adding any dollars into employee pensions.
The Fed retirement back in the early 80's maxed out at approximately 70% of your high three years, but had no 401K or SS portion. That ended in '84.
Federal employees have a 401k benefit with matching in addition to pension and SS.
Yes, but the employees have to contribute to the 401K and it only matches up to 5% of their contributions. The TSP Fund (the 401K portion) is a great deal if you can make maximum contributions to it though.
Because of my "crappy" 401K, IRA (funded when I was younger & made less), 529, HSA, & tax deduction, I have become a top 2%'er. Being frugal helped a lot too, and minimizing interest payments of all kinds.
I never made huge sums of money, but here I am semi-retired <60 yrs old.
Gov't workers can do the same. Nobody paid for my retirement...well in a way, Americans who failed to use the tax breaks I did paid for it in a very indirrect way, but not like I'm paying for gov't workers retirements.
Since only 40% are paying net federal income taxes right now, and some of those have pensions, I'm in the minority of people paying those pensions. They (gov't) have divided, and conquered us.
Well.. The country is bankrupt now. Unlike when you were working your way up and the private sector employees have been HOSED enough over the past few decades. Govt workers have had enough "gravy years"
Fed employees under the FERS retirement program pay into their SS just like everyone else. SS is considered part of your retirement compensation.
You get your pension your 401 and your social. Unless you were high rank and pulled 30 years it’s not an amount close to what you were making to make ends meet.
You’re failing to mention, at least at the state and local level, they are paying for their retirement in the form of reduced compensation. If you reduce the retirement benefits, your going to have to increase salaries, especially for the professional positions.
I get a teacher pension, but WEP ensures that I can’t double dip. And the social security that I did earn over the years in my no-teacher years was reduced by 2/3.
And I paid my fair share into my teacher pension.
So now Trumpistas are attacking the common working civ servant? You couldn't stop at the mailman and mexicans? Next they will hate athletes.
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.
