The pension hole for US cities and states is the size of Japan's economy

[Harry Dresden]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

Safe Pussy Job

read post 20.....it apples to you too...

 

[Thinker101]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Someone seem to be stuck in the 1960's.

No. And there is nothing in what I said that is inaccurate. People like you are just dupes who want to work cheap so the middle class is destroyed.

Sure, that's my whole purpose in working...dumbass.

 

[jillian]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

not where most public employees work. only a lying loon who has never been trusted with working for the public would think that.

 

[candycorn]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Good post.

Just as an aside...wouldn't you expect a mega-ton sized boom once the pensioners die off and the money that is paid in becomes available as a surplus.
Its transferrable to spouses but not children, right?

 

[Snouter]

In CT, towns generally hire friends, relatives and fellow synagogue folks for mostly useless jobs that tax normal (white working) people to the extent they can receive ridiculous pensions. Very simple formula.

 

[WorldWatcher]

Good post.

Just as an aside...wouldn't you expect a mega-ton sized boom once the pensioners die off and the money that is paid in becomes available as a surplus.
Its transferrable to spouses but not children, right?

I can't speak for all government pensions, but "no".

My military pension does not transfer to my spouse or children. I had the option at retirement to select a Survivor Benefit Plan which is income replacement insurance. I am required to make payments for 30 years and if something happens to me then she receives 55% of my military retirement for the rest of her life.

I'm currently working under a State retirement system and when I retire my spouse does not receive my retirement when if I pass before she does. The state has a plan similar to the military where you can take a reduced benefit and participate in a Survivor Benefit Program. Basically the reduction in benefit amount is paying premiums for the survivor benefit insurance.


I wouldn't say that there will be a mega-ton boom for surpluses as these programs use extensive models called actuary tables so from a population standpoint (i.e. the pensioners enrolled) they have a pretty good idea of the statistical changes of new-retirees to those that will "die off" over time.


.>>>>

 

[iamwhatiseem]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Not the case.
Example...
Private employee (A)
Administrative Asst. - salary - $35,360 /yr.
Public employee (B)
Administrative Asst. - salary - $28,000 /yr

(A) retires at 65....total cost to employer = $1,591,200 for 45 years service
(B) retires at 55.... total cost to employer = $980,000 for 35 years.

Both Die at age 82.
Private Sector person has no pension, but the company did a 50% match for max 5% salary. Let's say (A) was a rare employee that actually maxed her savings for all 45 years = $1,786 yr. Company match... for 45 years a total of $79,560.
Total cost of Private (A) = $1,670,760...and they received 45 years service.

(B) Full pension for 37 years = $1,036,000 + 35 years wages = $2,016,000 for 35 years service.

Total Cost per year of service
(A) = $37,128
(B) = $57,600

Public employees cost more than private.

 

[CowboyTed]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Complaining about paying benefits to government employees... That's Veterans too...

As for you coaches analogy... That is capitalism baby... Supply and demand, those public universities and big football teams make a huge profit for other areas in the university.. Why are you complaining when government agencies acting like businesses now...

You seem all over the map but your main problem seems to be someone is doing better than you and you are envious...

My advice, We are all generally doing better than you, you are living a shrinking world and are praying to the Orange Jesus to make the bad people go away...

 

[Jarlaxle]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

Haha...yeah, mail carriers really bust their balls. They’re such badasses....and the most pissed off people on the planet. NONE have people skills.

you would last a week before you quit....and the first rain you would call in sick...big mouth people like you are the ones that used to give us plenty of laughs...."how hard could this job be?"....a week later,hey what happened to that guy that thought this was such an easy job?...but then you are a loser...

Yeah...sitting in a truck stuffing boxes is so HARRRRRRRRRD!

 

[CowboyTed]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Not the case.
Example...
Private employee (A)
Administrative Asst. - salary - $35,360 /yr.
Public employee (B)
Administrative Asst. - salary - $28,000 /yr

(A) retires at 65....total cost to employer = $1,591,200 for 45 years service
(B) retires at 55.... total cost to employer = $980,000 for 35 years.

Both Die at age 82.
Private Sector person has no pension, but the company did a 50% match for max 5% salary. Let's say (A) was a rare employee that actually maxed her savings for all 45 years = $1,786 yr. Company match... for 45 years a total of $79,560.
Total cost of Private (A) = $1,670,760...and they received 45 years service.

(B) Full pension for 37 years = $1,036,000 + 35 years wages = $2,016,000 for 35 years service.

Total Cost per year of service
(A) = $37,128
(B) = $57,600

Public employees cost more than private.

Please back up your claim that Private have average of 65 and Public have average of 55...

Otherwise your whole argument is just a piece of fiction...

 

[Dont Taz Me Bro]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Complaining about paying benefits to government employees... That's Veterans too...

As for you coaches analogy... That is capitalism baby... Supply and demand, those public universities and big football teams make a huge profit for other areas in the university.. Why are you complaining when government agencies acting like businesses now...

You seem all over the map but your main problem seems to be someone is doing better than you and you are envious...

My advice, We are all generally doing better than you, you are living a shrinking world and are praying to the Orange Jesus to make the bad people go away...

I have no idea what you're talking about, but it was amusing nonetheless.

 

[Dont Taz Me Bro]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Good post.

Just as an aside...wouldn't you expect a mega-ton sized boom once the pensioners die off and the money that is paid in becomes available as a surplus.
Its transferrable to spouses but not children, right?

There isn't enough being paid in; that's the problem. The debt is massive and government generally doesn't shrink. It gets larger.

 

[CowboyTed]

All public sectors should be moved to 401K like the private sector

So you want the Veterans to be exposed to the stock market crashes...

If you want to treat Government employees like Private then Pay them like Private...

Lets compare:
The average pay for a U. S. Navy SEAL is $72,155 per year.

Same guy in the private sector makes $22,500 per month. Let him take 2 months off per year (better than public).
Thats $225,000 per year...
Private Military Company Pay Vs. Army Pay

So that is an increase of 152,845. That is an increase off 211%

The present active US Military pay is $90Bn
Costs of Military Pay and Benefits in the Defense Budget | Congressional Budget Office

So the Increase in Pay will be $189Bn per year... Lets string that out for 10 years...
That is $1.89 Trillion for just Military Pay...

Now at the point just take your hands and cover yourself in shame... You have just shown us that we are better off not listening to you. Actually your statement only tried to make the world dumber...

 

[iamwhatiseem]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Not the case.
Example...
Private employee (A)
Administrative Asst. - salary - $35,360 /yr.
Public employee (B)
Administrative Asst. - salary - $28,000 /yr

(A) retires at 65....total cost to employer = $1,591,200 for 45 years service
(B) retires at 55.... total cost to employer = $980,000 for 35 years.

Both Die at age 82.
Private Sector person has no pension, but the company did a 50% match for max 5% salary. Let's say (A) was a rare employee that actually maxed her savings for all 45 years = $1,786 yr. Company match... for 45 years a total of $79,560.
Total cost of Private (A) = $1,670,760...and they received 45 years service.

(B) Full pension for 37 years = $1,036,000 + 35 years wages = $2,016,000 for 35 years service.

Total Cost per year of service
(A) = $37,128
(B) = $57,600

Public employees cost more than private.

Please back up your claim that Private have average of 65 and Public have average of 55...

Otherwise your whole argument is just a piece of fiction...

We have a VERY large Naval munitions plant near here, last I knew about 2500 employees.
They are, and have been for years, 30 and out. They are civilians.
The U.S. Post Office can be 30 and out and be 56 years old. However, unlike some civil jobs, the benefits are not full.
ALL Federal employees are eligible for retirement at age 56, with minimum 30 years in. They can retire at age 60 with 20 years.

 

[Harry Dresden]

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

Haha...yeah, mail carriers really bust their balls. They’re such badasses....and the most pissed off people on the planet. NONE have people skills.

you would last a week before you quit....and the first rain you would call in sick...big mouth people like you are the ones that used to give us plenty of laughs...."how hard could this job be?"....a week later,hey what happened to that guy that thought this was such an easy job?...but then you are a loser...

Yeah...sitting in a truck stuffing boxes is so HARRRRRRRRRD!

you have do more than just stuff boxes dipshit....you have to get the mail ready in the morning ...load a truck with not enough room in the back for the mail and packages....and then get out and deliver it all in a certain amount of time.....and not everyone has curbside mail boxes,many have to walk their routes.....in hot weather,rain and snow....try it when its storming,im sure you cant do it....and its even more fun at christmas and especially fun at election time when you are working in the dark because of all that wonderful political bullshit....you are another one jar....if you quit before the week is up or if you stick with it....you will have a whole different opinion about a letter carriers job....i have seen people with your attitude hundreds of times.....a hell of a lot of your type quit,the ones that stick with it have a slight attitude change....

 

[iamwhatiseem]

All public sectors should be moved to 401K like the private sector

Sweet mother of God, this is one of the dumbest post I have seen in months.
I thank God I am among the vanishing folks fortunate enough to have 26 years of an old fashioned pension.
The value of the pension is over $500k...of that I did not have to contribute a single penny. It use to be a part of normal employee benefits.
A 401k, YOU have to put your own money into it. An employer might match up to 3%-5%...some not all all.
The pension - 401k switch was one of the greatest financial rip offs to working middle class in the history of this country.

 

[CowboyTed]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Not the case.
Example...
Private employee (A)
Administrative Asst. - salary - $35,360 /yr.
Public employee (B)
Administrative Asst. - salary - $28,000 /yr

(A) retires at 65....total cost to employer = $1,591,200 for 45 years service
(B) retires at 55.... total cost to employer = $980,000 for 35 years.

Both Die at age 82.
Private Sector person has no pension, but the company did a 50% match for max 5% salary. Let's say (A) was a rare employee that actually maxed her savings for all 45 years = $1,786 yr. Company match... for 45 years a total of $79,560.
Total cost of Private (A) = $1,670,760...and they received 45 years service.

(B) Full pension for 37 years = $1,036,000 + 35 years wages = $2,016,000 for 35 years service.

Total Cost per year of service
(A) = $37,128
(B) = $57,600

Public employees cost more than private.

Please back up your claim that Private have average of 65 and Public have average of 55...

Otherwise your whole argument is just a piece of fiction...

We have a VERY large Naval munitions plant near here, last I knew about 2500 employees.
They are, and have been for years, 30 and out. They are civilians.
The U.S. Post Office can be 30 and out and be 56 years old. However, unlike some civil jobs, the benefits are not full.
ALL Federal employees are eligible for retirement at age 56, with minimum 30 years in. They can retire at age 60 with 20 years.

Sorry man... But here is the hole in your arguement...

Federal employees are continuing to retire at ever later-stages of their careers, with the average age at standard voluntary federal retirement now 63, a figure that has risen steadily from 61.3 in 1990, according to a Congressional Research Service report.
Average Federal Retirement Age Continues to Increase

Compare that to this:
Indeed, SmartAsset’s analysis of U.S. Census Bureau data found that the national average retirement age is 63 years old. At the state level, it ranges from 62 to 65.
The Average Retirement Age in Every State in 2015 - SmartAsset

So your whole argument has just fallen apart a bit there... I understand your thinking and I used to think like that too... Strangely I think Fed Employees consider there jobs more vocationally than private workers (in a big general sense). You could understand working as a fireman, police officer or teacher can give you a sense of worth more than a factory worker(I am only really guessing)...

 

[SobieskiSavedEurope]

The government would pick-up the tab to some extent, anyways?

I mean if you pay your public employees scab wages, then they can apply for government social support programs, no?

 

[SobieskiSavedEurope]

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

Haha...yeah, mail carriers really bust their balls. They’re such badasses....and the most pissed off people on the planet. NONE have people skills.

you would last a week before you quit....and the first rain you would call in sick...big mouth people like you are the ones that used to give us plenty of laughs...."how hard could this job be?"....a week later,hey what happened to that guy that thought this was such an easy job?...but then you are a loser...

Yeah...sitting in a truck stuffing boxes is so HARRRRRRRRRD!

The mail-folk here do work pretty hard, walking to mail-boxes in Pawling here, in all the weather elements, of course it's a little different sometimes else-where.

 

[SobieskiSavedEurope]

And this right here is the problem. Public employees unions make unrealistic demands and corrupt politicians makes promises they know can't be kept in order to get their endorsement and get elected. I saw it time and time again when I was still living in Boston. Whoever got the union backing usually one and so, of course, they were willing to give the union pretty much whatever they wanted. It didn't matter how unrealistic it may have been. By the time the shit hit the fan it would be someone else's problem.

When times were flush, politicians made overly generous promises. Public-employee unions made unrealistic demands. High-profile municipal employees, such as coaches at public universities, have drawn fire for what some consider too-rich retirement benefits, while some first responders scored rich early retirement and disability arrangements.

The pension hole for US cities and states is the size of Japan's economy

Public employees take reduced salaries in exchange for benefits packages.

That you spout nonsense is the problem

Public employees do not work for a living they get a free ride

not were i worked....

Haha...yeah, mail carriers really bust their balls. They’re such badasses....and the most pissed off people on the planet. NONE have people skills.

LOL, well I can't necessarily disagree, Cooter in Pawling a mail-man does seem pissed off, but he's pretty sociable in bar settings, kind of in a joke, sort of way.
Just saying.

He does work hard, however, in the snow, rain, thunder, heat, cold, etc. he's walking around Pawling delivering mail.

I see him all the time, around town.