Public employees retirements = $$$ problems

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ChemicalKat
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Re: Public employees retirements = $$$ problems

Post by ChemicalKat » April 15th, 2018, 4:55 pm

WildcatEngineer wrote:States and Federal just do what Liberals always do. Tax the pension.
Well it's income. IRAs eventually get taxed too

ChemicalKat
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Re: Public employees retirements = $$$ problems

Post by ChemicalKat » April 15th, 2018, 4:56 pm

WIldWIllieCat wrote:was I right or what?
When you're right you're right.

ToledoCat#2
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Re: Public employees retirements = $$$ problems

Post by ToledoCat#2 » April 15th, 2018, 5:10 pm

I have no problem with public employees pension plans, except that they can get too extravagant in many cases. Better to have a modest retirement fund that goes a long way in time than a plush one that goes broke. I don't give a damn what public job anyone does, he/she doesn't warrant $75,000 PER MONTH -- or more in the case of Oregon's retired football coach.

ChemicalKat
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Re: Public employees retirements = $$$ problems

Post by ChemicalKat » April 15th, 2018, 8:21 pm

ToledoCat#2 wrote:I have no problem with public employees pension plans, except that they can get too extravagant in many cases. Better to have a modest retirement fund that goes a long way in time than a plush one that goes broke. I don't give a damn what public job anyone does, he/she doesn't warrant $75,000 PER MONTH -- or more in the case of Oregon's retired football coach.
The 401k model makes a lot more sense than the pension model. But people have been planning their retirement with their EARNED pensions in mind and taking them away because "public employee pensions = $$$ probelms" incredibly cruel.

NealyFan
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Re: Public employees retirements = $$$ problems

Post by NealyFan » April 15th, 2018, 9:22 pm

We used to have a great pension system in this country - private and public. However, starting in the eighties, corporations and vulture capitalists used bankruptcy law, mergers and acquisitions, and numerous other legal maneuvers to raid the funds and walk away from their obligations. Meanwhile, CEOs are paid in the millions to tens of millions and upper management has their golden parachutes. How about a little outrage over that?

Pretty sure DMC would be upset if the messed with his cop pension.

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02Cat
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Re: Public employees retirements = $$$ problems

Post by 02Cat » April 16th, 2018, 9:05 am

NealyFan wrote:We used to have a great pension system in this country - private and public. However, starting in the eighties, corporations and vulture capitalists used bankruptcy law, mergers and acquisitions, and numerous other legal maneuvers to raid the funds and walk away from their obligations. Meanwhile, CEOs are paid in the millions to tens of millions and upper management has their golden parachutes. How about a little outrage over that?

Pretty sure DMC would be upset if the messed with his cop pension.
Silly Nealy...bringing up a real problem on this forum. Jeesh.
Tell people that there's an invisible man in the sky who created the universe, and the vast majority will believe you. Tell them the paint is wet, and they have to touch it to be sure. - George Carlin

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Re: Public employees retirements = $$$ problems

Post by ToledoCat#2 » April 16th, 2018, 9:10 am

I'm with Nealy on this one about vulture corporations.

However, I'm not going to absolve the DeLPS in Congress for taking funds from SS and putting the money in the general fund. That's when the problems with SS started.

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Re: Public employees retirements = $$$ problems

Post by NealyFan » April 16th, 2018, 10:12 am

ToledoCat#2 wrote:I'm with Nealy on this one about vulture corporations.

However, I'm not going to absolve the DeLPS in Congress for taking funds from SS and putting the money in the general fund. That's when the problems with SS started.
That is not what happened. When SS had a surplus, they invested in US treasury bonds. In order to cover up the size of the debt, both parties treated those investments assets and not liabilities. When the debt becomes due, both parties look to increase retirement age, cut benefits, etc, so as to avoid the full brunt of the liability.

It yes, DeLPS are as responsible as anyone for this issue

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