U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > U.S. Territories
 [Register]
U.S. Territories Puerto Rico, Guam, U.S. Virgin Islands, etc.
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-12-2013, 12:48 PM
 
Location: NJ
31,776 posts, read 36,286,427 times
Reputation: 24482

Advertisements

my mother in law is a retired employee of the puerto rican government. she collects a pension and due to a conversation with a former co-worker, she is worried her benefits will be cut. i dont speak spanish, so ive read some english speaking news and was wondering if im missing anything. my initial reaction was that theres pretty much no way they would cut benefits to current retirees, that cuts usually happen to people further from retirement. after reading a bunch, it looks like a proposal is out there that may cut whatever christmas bonus she gets but not other benefits. the rest of the stuff was for non-retired folk.

i was wondering if there was any more detail out there in the puerto rican world that i may not be able to read. my mother in law doesnt have internet, so she is just going on this info from her co-worker.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-12-2013, 01:48 PM
 
Location: On a Long Island in NY
7,801 posts, read 9,310,831 times
Reputation: 7345
From what I understand the bulk of the changes will impact future retirees but the existing retirees will see some cuts such as the Christmas bonus like you mentioned. The details are still be worked out.

Puerto Rico is desperate to avoid ending up like California so changes and cuts have to be made.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-12-2013, 03:23 PM
 
1,844 posts, read 4,275,829 times
Reputation: 5007
Both my parents are PR civil servant retirees. Yes, the Xmas bonus is on the chopping block along with a small medication cost supplemental associated with the PR retiree benefit plans.

Both my parents are copacetic about the cuts. As they should. Freedom ain't free. Their kids will never see that kind of retirement benefits ever, and the government is upside down on the promises. What retirees need to be doing is tighten the belt. We're all hurting.

My mother has admitted to me she's already upward of half a million in withdrawals in a decade's period. My father is on the same boat. She's on track to live another 30 years. What's good for the goose is good for the gander right? We're all experiencing the downgrade. A Xmas bonus is offensive in this fiscal environment, cultural colloquialisms and customs aside.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-12-2013, 04:05 PM
 
355 posts, read 656,815 times
Reputation: 616
I'm in full support for public employee pensions. They've been the whipping boy for the last few years but it's been nothing more than scapegoating. Most public employees know they're taking a lower wage their entire career in exchange for a pension later. Why this became fashionable to bash is beyond me. Especially public safety employees, they earned it. Of course the media has exploited the stories of a few system manipulators but in reality we see more manipulation in the private sector than the public sector. That being said, I've never heard of a Christmas Bonus being tied to a gov't pension. Same amount every month including December... which is fair and should remain untouched for those who agreed to the terms of the pension when they began their careers.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-12-2013, 07:25 PM
 
Location: NJ
31,776 posts, read 36,286,427 times
Reputation: 24482
Quote:
Originally Posted by hindsight2020 View Post
Both my parents are PR civil servant retirees. Yes, the Xmas bonus is on the chopping block along with a small medication cost supplemental associated with the PR retiree benefit plans.

Both my parents are copacetic about the cuts. As they should. Freedom ain't free. Their kids will never see that kind of retirement benefits ever, and the government is upside down on the promises. What retirees need to be doing is tighten the belt. We're all hurting.

My mother has admitted to me she's already upward of half a million in withdrawals in a decade's period. My father is on the same boat. She's on track to live another 30 years. What's good for the goose is good for the gander right? We're all experiencing the downgrade. A Xmas bonus is offensive in this fiscal environment, cultural colloquialisms and customs aside.
in this particular situation, im mostly concerned about having to make up the difference. she could handle some cuts, but there would be a point where id have to help more. right now, ive taken over her timeshare she got that she shouldnt have gotten and i have her cell phone on my family plan.

if i didnt have my own risk here, id agree the pension is overly generous for what she has done. however, it is what was promised and id expect future retirees to get the shaft before current retirees that dont have as much flexibility. its funny, my father in law (they are divorced) lives in pr and lives off of disability, food stamps, medicaid/medicare. when he visited me, he kept saying "i worked 25 years, i deserve it." im not sure if you can get away with that line in pr, but that doesnt work in america. 25 years isnt very long and he hasnt paid into the system anywhere near what he takes out.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-12-2013, 08:27 PM
 
Location: On a Long Island in NY
7,801 posts, read 9,310,831 times
Reputation: 7345
Quote:
Originally Posted by hindsight2020 View Post
Both my parents are PR civil servant retirees. Yes, the Xmas bonus is on the chopping block along with a small medication cost supplemental associated with the PR retiree benefit plans.

Both my parents are copacetic about the cuts. As they should. Freedom ain't free. Their kids will never see that kind of retirement benefits ever, and the government is upside down on the promises. What retirees need to be doing is tighten the belt. We're all hurting.

My mother has admitted to me she's already upward of half a million in withdrawals in a decade's period. My father is on the same boat. She's on track to live another 30 years. What's good for the goose is good for the gander right? We're all experiencing the downgrade. A Xmas bonus is offensive in this fiscal environment, cultural colloquialisms and customs aside.
Im going to have to agree with you. It sucks, but it needs to be done to improve Puerto Rico's fiscal condition. I truly feel for the retired who have paid into the system for 2-3 decades and for those who are on fixed incomes and believe me I know what it's like as I was recently laid off from my job.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-13-2013, 08:54 AM
 
52 posts, read 116,185 times
Reputation: 126
Why is it your responsibility to take care of her your wife doesn't help
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-13-2013, 08:58 AM
 
Location: NJ
31,776 posts, read 36,286,427 times
Reputation: 24482
Quote:
Originally Posted by Giants Fan View Post
Why is it your responsibility to take care of her your wife doesn't help
its our shared responsibility and since my wife is a stay at home mom, its primarily my financial responsibility. fortunately, adding her into the mix wouldnt be a terrible burden on me but id prefer to avoid it. i wouldnt help her dad out, but i think he is more secure since the us government covers his parasitic life.
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > U.S. Territories
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top