nice work if you can get it . . . and if you can get it brother won't you tell me how
Signs that say "Swim At Your Own Risk". Problem solved.
Face your fear, accept your war.
It shows how the public workers sector has stopped working for the people and are now working for the benefit of the public workers sector... The system they set up for thremselves is at the point of bankrupting the state, yet I bet you ask anyone of those lifeguards and they would say not only do they deserve what they are getting but could use alittle more. It would be the same old argument, they are hero's they keep the public safe and that has to cost money (been hearing alot of that here in Ohio on why teachers, firemen and police deserve a pension that every Ohioian already owes $17,000 to).
I wish my defined benefit pension was a wealth building instrument. Its not. It ends when I die. I also don't get social security. I also contribute 10% of my gross pay to the fund every payday. Some people think its a gift from the taxpayer. They are wrong.
I know people that get quarterly bonuses that exceed my annual salary. I get no profit sharing or bonuses. I have worked many holidays when most people were home drinking and fighting with their families, I know because I got called to their houses.
I know people are hurting, but the bottom line is if you wanted to be a teacher, cop or fireman...you should have. You could have made a decision early in life to trade a certain "quality of life" and earning potential for the relative security of a steady wage and a pension at the end of your service.
Face your fear, accept your war.
It's simply time to end the pension system, the math doesn't add up. The way the increases were negotiated was cronyism at it's worse.
No raise for 5 years (actuaries think we'll die) then 3% a year. Oh, and I'm on my own for health insurance, contrary to popular belief. The fund I am in is actually very solvent. Our investments have been yielding very nice returns.Originally Posted by mriddick
Face your fear, accept your war.
Let me gues you stay in this sucky system because you don't want to burden SSI right? You know it's way better with much better returns then anything in the private sector, it's not exactly like the ills of the IL public workers pension fund isn't known to the rest of us.
Maybe we should start slow, what's the unfunded liabilities of your pension fund right now?
What gets me so much is theage at which police can retire. There is an article in the local paper today about retiree's getting back in the work force. They were talking about a retired cop who went back to work part time driving offenders back and forth between jail and cout, ect. He was working 20 hours per week. The kicker is he is only 51 years old.
So lets see he is collecting his pension, and still sticking it to the taxpayers getting paid. What a wonderful system.
Doesn't even have to pay into social security like everyone else. I get to pay into social security, thatI will never receive becasue it will be long since broke. They will probably tell me that since I was smart and saved on my own that I don't need social security.
It is way past time to get rid of public pensions for politicians and any government workers.
It's not always the current crop that's so burdensome, it's the 3 or 4 generations of reitrees our tax dollars are paying for already retired. One thing that gets me is in talking to police and fireman they will claim they ought to get a lower age retirement due to concerns of the job, yet so many of them just use the rules to go right back to work while drawing that pension. It seems most want to claim the job risks to early retire then continue working in the supposedly high risk job at pension pay plus wages...
HA ! Small money. You could live in Illinois where each citizen owes $12 teen trillion* each.
Wart
*USD of course.
Last edited by Warthogg; 05-13-2011 at 02:19 PM.
it may not matter much anyways i read a report a while back that S.S.I will run out of money in 2035 ? so every one who is paying into SSI will not be able to retire at the age of 55 , or 60... we will still have to continue to work well into our 100's... Welcome to Communist America were we spend , spend an spend with out seting back reserves for our people... ....
We need to vote in a better presedent who will put the american people an the best interests of the Nation First before all other nations PERIOD !!! VOTE FOR ME FOR PRESIDENT !
If nothing is done all benefits are reduced, since people will still be paying into SSI that reduction is something on the order of 22-23% (reducing further every year after as the pool of contributors decreases). That is the current fall back plan for SSI, if there's not enough money everyone gets reduced benefits. I believe the unmentioned dem plan is to allow this to happen with the idea that they propose a law so that lower income people get the full amount at the expense of the higher income workers. You could call it manditory means testing.
One of the problems with the state pensions is there are no such fall back plans, the unions pretty demand every thing promised and states can not file bankruptcy. So what are the options, raise taxes and the rich who pretty much pay for everything anyway and they will leave for another state. Some have floated the idea of a Federal bailout of the state's pension plans, but really how do you get a state that's lived within it's means to go along with bailing places like IL to the tune of 200 billion plus and growing?
OK, lets start slow. There is no such thing as "IL public workers pension fund"...so please tell us what its ills are. My fund is fully funded and solvent as previously stated. If you mean the Illinois Municipal Retirement Fund or IMRF, thats actually in pretty good shape too. If you mean the Teacher's Retirement System (TRS) thats in some trouble.Let me gues you stay in this sucky system because you don't want to burden SSI right? You know it's way better with much better returns then anything in the private sector, it's not exactly like the ills of the IL public workers pension fund isn't known to the rest of us.
Maybe we should start slow, what's the unfunded liabilities of your pension fund right now?
As far as burdening SS, I paid in enough quarters to collect, but I can't. So...you're welcome. I have contributed to your pension through an involuntary tax. Its called the Windfall Elimination Provision and was passed by Dan Rostenkowski when he was chairman of ways and means...,before he went to prison. Oh, and don't talk down to me. I haven't done anything to deserve it and I damn sure won't respond politely.
Last edited by TEN-32; 05-13-2011 at 04:14 PM.
Face your fear, accept your war.
More ignorance and misinformation. There is not one sentence in our union contract about the police pension. Not one. The police pension is established by state statute in municipalities with a population over 5,000. It is managed by a board of elected and appointed officers. The union has absolutely nothing to do with it. The reason some pension are having solvency problems is that over the years, City governments did not make the contributions they were required to make, but rather diverted funds to other projects. Over time, as I'm sure you know, as earnings interest compound money grows...unless it was not put there in the first place. So now in some instances, actuarial projections are wrong because funds were not contributed to by local governments. Now they are trying to place the burden on the employees. Its fucking bullshit. And your ignorant statements are exactly what fuel this type of knee jerk reaction. You should take time to learn the facts before you spout off.
Last edited by TEN-32; 05-13-2011 at 04:32 PM.
Face your fear, accept your war.
The reason is just like SSI, promises were made that could not be kept. Many bought the lie because it sounds good and truthfully if they can get by with it it will be very good, but the real problem is public sector pensions is about to crash the state and everyone knows it. IMO they ought to start looking for a broad based tax so as many people as possible pay for it, add 2-3% to your sales tax as an example and make everyone pay for it...
I repeat, if units of local government had held up their statutory end of the deal, all would be fine. They did not in many cases. Do you think morons dreamt up some ponzi scheme to fleece taxpayers out of money? The pension system is sound if the contributions are adhered to. The money grows over time if it is put in when it is supposed to be put in. Politicians like to kick the can down the road and know they will be gone when the trouble surfaces.
Last edited by TEN-32; 05-13-2011 at 07:09 PM.
Face your fear, accept your war.
And that means what today. Should we dig up them up and stone them for their lies? OK two groups got together made up a good sounding lie, sold to a state and now the money is coming due. IMO it wasn't just one party to this crime, it took two to make this happen, that might be where we disagree but it's all moot now. All you need to do is find 200+ billion laying around your state and get things right, how about increasing your sales tax another 3% or so to raise the cash over the next 20 years. You know we could do the same for SSI ( a 3% national save SSI sales tax), heck we might as well do another 3% sales tax and save medicare while we're at it.
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