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$14,000 Per Month Pension for Blue Collar Worker?

 
Old 04-28-2019, 05:50 PM
  #41  
jpm995
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Unions in NY get away with murder. The taxpayers foot the bill for and are being outright robbed. The thing is this has been going on for many years and evertbody knows about it yet nothings done.
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Old 04-28-2019, 06:24 PM
  #42  
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From today's Daily Breeze:


the number of retirees from the California Public Employees' Retirement System who received pensions worth $100,000 rose from 14,760 in 2012 to 30,969 in 2018. The California State Teachers Retirement System saw retirees with more than $100,000 pensions rise from 6033 in 2011 to 15,559 in 2018. Pension costs, per student, are now $500. Pension costs per student will rise to $1600 per student in 2020. Keep in mind that these people can retire at relatively young years, sometimes at 55, so they can be on the pension payroll for a long time. A Los Angeles County lifeguard has retired at over $300,000 a year.
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Old 04-28-2019, 07:01 PM
  #43  
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People blame the unions, it's not.

It's the Politicians who refuse to properly fund and staff the agencies. The Politicians demand increased services and customer support goodies - well with no manpower - overtime becomes the standard.

How many times have you heard a Politician say: I'll improve ZXY agency to be more responsive and serve the public better. We will fix the housing ..bla bla bla…. well the last Politician cut their budget .. I'll save money … and the circle continues...
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Old 04-28-2019, 07:29 PM
  #44  
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YESTERDAY
the government employees work for the people

TODAY
the people work for the government employees
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Old 04-28-2019, 07:37 PM
  #45  
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Our tax dollars at work.

ever wonder why our taxes are ridiclously high? Governement spending as if it wasnt their money...

oh wait its not...

it ours..

sad
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Old 04-28-2019, 07:38 PM
  #46  
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150k a year for many NY civil service jobs in NY is not out of line. Even sanitation can get 80-100k with some OT. Teachers easily cross 120k+. Police regularly reach 150k. There is a reason I moved.
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Old 04-28-2019, 07:51 PM
  #47  
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Originally Posted by jpm995 View Post
Unions in NY get away with murder. The taxpayers foot the bill for and are being outright robbed. The thing is this has been going on for many years and evertbody knows about it yet nothings done.
you are so damned right; and, "someone" should do something about it . . .
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Old 04-28-2019, 07:51 PM
  #48  
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Originally Posted by 68/70Vette View Post
From today's Daily Breeze:


the number of retirees from the California Public Employees' Retirement System who received pensions worth $100,000 rose from 14,760 in 2012 to 30,969 in 2018. The California State Teachers Retirement System saw retirees with more than $100,000 pensions rise from 6033 in 2011 to 15,559 in 2018. Pension costs, per student, are now $500. Pension costs per student will rise to $1600 per student in 2020. Keep in mind that these people can retire at relatively young years, sometimes at 55, so they can be on the pension payroll for a long time. A Los Angeles County lifeguard has retired at over $300,000 a year.
And the taxpayers wonder why property tax, state sales tax and income taxes are so high. The bureaucrats have an unlimited amount of money through taxation to buy union support or to start more social programs. I love hearing public officials or state workers cry about how little they make, then retire after 20 years at age 55 with a retirement north of 100,000.

One day in the near future these underfunded pension plans are going to implode and once again they’ll expect the taxpayers to pick up the tab for their mismanagement. To avoid a crash they should end their current pension system and have all new hires have a 401K with matching employers contributions up to a sustainable level.
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Old 04-28-2019, 08:01 PM
  #49  
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Originally Posted by BLUE1972 View Post
People blame the unions, it's not.

It's the Politicians who refuse to properly fund and staff the agencies. The Politicians demand increased services and customer support goodies - well with no manpower - overtime becomes the standard.

How many times have you heard a Politician say: I'll improve ZXY agency to be more responsive and serve the public better. We will fix the housing ..bla bla bla…. well the last Politician cut their budget .. I'll save money … and the circle continues...
BS, "We the People" is the problem. Our local school district picks up and buses EVERY child to school and home. Including those who live directly across the street 50' from the school driveway. Why? Because the parents demand it to be that way. Well, that means more buses, drivers, monitors, mechanics, maintenance equipment, fuel, etc. All because "We the People" say so. But, those same people can't ever be bothered To show up at a school board budget meeting, or a town hall budget meeting, or any other said like meetings because THEY have a life and have dictated their priorities and responsibilities onto everyone else to perform. They can all go pizz up a rope . . .

oh ya, I forgot, this state also (thanks to these same ******* parents) mandates that all school districts WILL transport any student who transfers to another district within a 50 mile radius to their previous home school for the duration of that school year if the student wishes to finish the school year in the previous district.

Last edited by BadUmp; 04-28-2019 at 08:49 PM.
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Old 04-28-2019, 08:23 PM
  #50  
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Originally Posted by 68/70Vette View Post
From today's Daily Breeze:


the number of retirees from the California Public Employees' Retirement System who received pensions worth $100,000 rose from 14,760 in 2012 to 30,969 in 2018. The California State Teachers Retirement System saw retirees with more than $100,000 pensions rise from 6033 in 2011 to 15,559 in 2018. Pension costs, per student, are now $500. Pension costs per student will rise to $1600 per student in 2020. Keep in mind that these people can retire at relatively young years, sometimes at 55, so they can be on the pension payroll for a long time. A Los Angeles County lifeguard has retired at over $300,000 a year.

Originally Posted by BLUE1972 View Post
People blame the unions, it's not.

It's the Politicians who refuse to properly fund and staff the agencies. The Politicians demand increased services and customer support goodies - well with no manpower - overtime becomes the standard.

How many times have you heard a Politician say: I'll improve ZXY agency to be more responsive and serve the public better. We will fix the housing ..bla bla bla…. well the last Politician cut their budget .. I'll save money … and the circle continues...

The post above yours would seem to contradict that statement.

It's untenable, financially speaking, unless these cash strapped states can start fiating their own currency.
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Old 04-28-2019, 09:21 PM
  #51  
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Rumor has it some dude made over $300,000 in one year (pension spiking/legal) only to find that there is a cap at $250,000/yr max that can be calculated for this person's pension upon retirement.
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Old 04-28-2019, 09:45 PM
  #52  
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Originally Posted by 68/70Vette View Post
From today's Daily Breeze:


the number of retirees from the California Public Employees' Retirement System who received pensions worth $100,000 rose from 14,760 in 2012 to 30,969 in 2018. The California State Teachers Retirement System saw retirees with more than $100,000 pensions rise from 6033 in 2011 to 15,559 in 2018.
This is insane. Holy crap.

Last edited by Jackie N; 04-28-2019 at 09:46 PM.
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Old 04-28-2019, 11:10 PM
  #53  
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Originally Posted by BLUE1972 View Post
People blame the unions, it's not. It's the Politicians who refuse to properly fund and staff the agencies. The Politicians demand increased services and customer support goodies - well with no manpower - overtime becomes the standard.How many times have you heard a Politician say: I'll improve ZXY agency to be more responsive and serve the public better. We will fix the housing ..bla bla bla…. well the last Politician cut their budget .. I'll save money … and the circle continues...
Somewhat, but this has little to do with the pension accounting.

Defined benefit plans in general -- and public employee plans in particular -- have acclerateing benefits once you past 20 years of service, 25 years, and 30 years. This is compounded by rising average wages in the last 3 or 5 years (which is why overtime is so important -- it's part of compensation for calculation purposes).

Add in increased longevity, and you can have someone earning 6-figures for 40 years. There may be COLA boosts, too.

This is why so many of the public plans are underfunded. You would need to put 15-20% of one's salary aside each year to properly fund these massive payouts (compared to a 6% match for a 401k). No way they can fund that in the operating budget.

Last edited by ZL1Vette; 04-28-2019 at 11:10 PM.
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Old 04-28-2019, 11:11 PM
  #54  
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Originally Posted by Jackie N View Post
This is insane. Holy crap.
The actuaries from the labor unions are smarter than the moronic politicians, mostly Democrats.
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Old 04-29-2019, 12:26 PM
  #55  
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Originally Posted by jpm995 View Post
Unions in NY get away with murder. The taxpayers foot the bill for and are being outright robbed. The thing is this has been going on for many years and evertbody knows about it yet nothings done.
I think it's most Unions.

Same **** here in Shitcago.

This college president is getting $76,111 per month.

https://www.nytimes.com/2018/04/14/b...ce-oregon.html

Last edited by Tennis & Golf Nut; 04-29-2019 at 12:34 PM.
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Old 04-29-2019, 12:31 PM
  #56  
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Thats more than I currently make.


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Old 04-29-2019, 12:46 PM
  #57  
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I knew a guy wasn't as talented as this one. Worked the railroad in NYC. There was some recall on passenger rail cars. He and his buddies put a bid in to do the work. Their seniority locked them in to the work. Each car paid ten hours after doing a few they were able to cut the time to 3-4 hours. They bid all that kind of work, he had no home life but he was rolling. The company was happy getting the cars updated. They were careful not to let management know they could beat the time. They got as many done as not to draw attention while milking it for as long as possible.
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Old 04-29-2019, 12:56 PM
  #58  
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Originally Posted by Kevova View Post
I knew a guy wasn't as talented as this one. Worked the railroad in NYC. There was some recall on passenger rail cars. He and his buddies put a bid in to do the work. Their seniority locked them in to the work. Each car paid ten hours after doing a few they were able to cut the time to 3-4 hours. They bid all that kind of work, he had no home life but he was rolling. The company was happy getting the cars updated. They were careful not to let management know they could beat the time. They got as many done as not to draw attention while milking it for as long as possible.
I kind of equate this to a pair of Nike Air Jordans costing $15 to produce; but, selling for $550. Who's getting fk'd here . . .
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Old 05-01-2019, 10:35 PM
  #59  
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Just got my father's pension plan statement from a large pharmaceutical firm: plan is about 75-80% funded (depending on assumptions).....about $2.1 billion in assets, $2.6 billion in liabilities, 42% stocks 35% IG bonds, 23% other, nothing in high yield or real estate.
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Old 05-12-2019, 03:04 PM
  #60  
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Those jackasses should all stay on their knees, stupid asses in the air and faces in the dirt.
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