National Guard Needs to be Sent to Wisconsin

[Mr Rex]

I never understand why in the minds of Republicans a Democratic politician fillibustering is any different than a Republican fillerbustering. Business or government negotiated with unions to reach an labor agreements. Our economy is in the toilet because Wall Street (and many appraisers) was making huge bags of gold selling subprime mortgages and credit default swaps on those mortgage bonds. With regard to pensions remember govt employees don't get SS and to some extent that is reflected in their "generous" pension plans. Many govt pension plans are underfunded because the politicians in charge somehow believed 12% returns were sustainable in the long run. That allowed them to divert funds into pet projects that got them relected. Most people, conservatives included, are very depended on goverment services. Just try to take theur Medicare away and listen to them squawk.

You might want to check your sources before you make such statements. My parents were state employees and get SS and my brother is a Federal employee about to retire and will get SS when he reaches the appropriate age. Until then he will get a lions share of his current salary as part of his pension and add SS to the pension income after 67?(moving target these days)

 

[Couch Potato]

I never understand why in the minds of Republicans a Democratic politician fillibustering is any different than a Republican fillerbustering. Business or government negotiated with unions to reach an labor agreements. Our economy is in the toilet because Wall Street (and many appraisers) was making huge bags of gold selling subprime mortgages and credit default swaps on those mortgage bonds. With regard to pensions remember govt employees don't get SS and to some extent that is reflected in their "generous" pension plans.(This was changed back in 1987 for federal employees. Very few, if any, are now under the old system.) Many govt pension plans are underfunded because the politicians in charge somehow believed 12% returns were sustainable in the long run. That allowed them to divert funds into pet projects that got them relected. Most people, conservatives included, are very depended on goverment services. Just try to take theur Medicare away and listen to them squawk.

They did divert funds, but it had nothing to do with the returns they believed possible. States like New Jersey agreed to payments into pension plans to placate the unions, then simply didn't make the payments for ten years. The idiotic workers actually thought the government could be trusted to pay the money they promised even though they hadn't payed for years. That's like having a tenant not pay the rent for ten years, then being surprised when they can't catch up on the back rent when you need the money.c:new_all_coholic:

 

[CBBoston]

Rex People can accrue SS benefits for work done in the private sector provided they pais into SS. Some govt workers may get SS if they paid into SS which is not common. Then there are spouse benefits.

Couch In part they thought they could divert the money because they expected high returns. However your point that they did it just because they could is also valid.

 

[farmguy]

If you were in FERS (Federal Employee Retirement System) you paid SS and will get it and you will also get an anniuty, if I understand correctly. I worked for USDA for 7 years during early 90's. I just went to FERS website and read up a little. I qualify for an annuity. I also had TSP (essentially a 401K) that I took with me and put in a managed retirement account.
The pay was actually pretty good. In mid 90's after 7 years I was at $55,000 or so. Benefits were incredible. A 401 plus a traditional type retirement plan, plus I think 17 Federal holidays, plus sick leave, family leave, I forget how much vacation I got but it increased with time served. It was a sweet deal. The only drawback was it was a gov job. Terribly inefficient, it would just beat you down. No matter how hard you worked nothing changed, like trying to steer a battle ship with a paddle. I realized I had to get out one time at a continuing ed class a guy got up during the introductions and said he was with dept of interior and he was a lifer, like it was a prison sentence or something. Once you get say 10-15 years in it is hard to leave the benefits. That is all that holds you. Looking back leaving was the best carreer decision I ever made. It is after you retire that you reap the reward for government service.

 

[Mr Rex]

Rex People can accrue SS benefits for work done in the private sector provided they pais into SS. Some govt workers may get SS if they paid into SS which is not common. Then there are spouse benefits.

Couch In part they thought they could divert the money because they expected high returns. However your point that they did it just because they could is also valid.

What is your source for this info? My brother's SS is not based on his contributions while delivering pizzas and selling plasma in college.

 

[Couch Potato]

What is your source for this info? My brother's SS is not based on his contributions while delivering pizzas and selling plasma in college.

That could be the basis of benefits, but every case is different. Anyone with 40 credits gets some benefit. My father earned all 40 of his credits after the age of 55. My mother earned all of her 40 credits before the age of 35. The benefit formula is quite complex, and nothing is locked in until the benefits start arriving.