If any amount you paid into the trust was related to your defined benefit, and not your defined contribution, then it was to help pay for another guy who was retired while you were working.
In any event, your contribution of 9% doesn't come close to how much it costs for a lifetime pension benefit unless they get lucky and you and your beneficiary die earlier than the tables say you will. And you yourself said it: your employer paid in on your behalf. Who was your employer? How do government employers get their money?
You were paid by, and are retired on, tax revenue. You were the government.
Or pandering for votes? Since we don’t have a Democracy and no one person or group of people would be the “backbone” of it if we did, I’m going with pandering for votes. Maybe even using them as props.
Calling a representative republic a democracy is closer than calling Medicare for all a communism. HTH
Which no one did. Idiot.
People call Medicare for all socialism and communism here on a daily basis. You are doing it in sheet thread right now. And you don't even see it. Sad!
Medicare for all is Socialism. It is socialized medicine. Quote the person who called it Communism.
It's actually not socialism. Look up what socialism actually is. Look up the economies that Hitler, Stalin, and Mao had.
And sledog says hello.
Got it, it's Socialized medicine but it's not Socialism. It's healthcare that's paid for by the state but according to Hondo the stupid Kunt, it's not Socialism. And Bernie wants to "break up" ICE and the Border Patrol, but again, according to Hondo the lying Kunt, it's a lie to say Bernie wants to "dismantle" ICE and the Border Patrol.
Hondo has his own words and meanings for words.
It's just so god damned messy with the words these day. All the olds that love Trump love their Medicare but hate "socialism". So if the government is just picking up the tab, but doesn't control or own the means of production- i.e., docs and hospitals - is it really REAL socialism?
That's the trouble with socialism-light, it always requires more government intervention & control as rent seeking replaces competition in a free market.
Healthcare is a perfect example. The government "fixed" our private market. Now the calls for single payer since there's a shrinking supply of larger and larger rent seeking corporations. Then, after single payer exists, there will be an oligopoly of rent seekers who give poor service while suckling at the public tit and we will have cries for state takeover just like PG&E. Then "real" socialismo where competition ceases to exist entirely and costs balloon while service and supply dwindle until the lights go off.
May we call for the death of all rent seeking professions? Hi @creepycoug !!
Hurtful. And I don't even know what you two are talking about.
Or pandering for votes? Since we don’t have a Democracy and no one person or group of people would be the “backbone” of it if we did, I’m going with pandering for votes. Maybe even using them as props.
Calling a representative republic a democracy is closer than calling Medicare for all a communism. HTH
Which no one did. Idiot.
People call Medicare for all socialism and communism here on a daily basis. You are doing it in sheet thread right now. And you don't even see it. Sad!
Medicare for all is Socialism. It is socialized medicine. Quote the person who called it Communism.
It's actually not socialism. Look up what socialism actually is. Look up the economies that Hitler, Stalin, and Mao had.
And sledog says hello.
Got it, it's Socialized medicine but it's not Socialism. It's healthcare that's paid for by the state but according to Hondo the stupid Kunt, it's not Socialism. And Bernie wants to "break up" ICE and the Border Patrol, but again, according to Hondo the lying Kunt, it's a lie to say Bernie wants to "dismantle" ICE and the Border Patrol.
Hondo has his own words and meanings for words.
It's just so god damned messy with the words these day. All the olds that love Trump love their Medicare but hate "socialism". So if the government is just picking up the tab, but doesn't control or own the means of production- i.e., docs and hospitals - is it really REAL socialism?
That's the trouble with socialism-light, it always requires more government intervention & control as rent seeking replaces competition in a free market.
Healthcare is a perfect example. The government "fixed" our private market. Now the calls for single payer since there's a shrinking supply of larger and larger rent seeking corporations. Then, after single payer exists, there will be an oligopoly of rent seekers who give poor service while suckling at the public tit and we will have cries for state takeover just like PG&E. Then "real" socialismo where competition ceases to exist entirely and costs balloon while service and supply dwindle until the lights go off.
May we call for the death of all rent seeking professions? Hi @creepycoug !!
Hurtful. And I don't even know what you two are talking about.
Toss in full medical here in Oregon for teachers who retired in there 50s.
Yeah forgot the medical. My local school district is getting killed by the retiree health care coverage not only for the employee but also for family members
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
You are correct. It's not a bad way to go.
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
You are correct. It's not a bad way to go.
I'll see if I can find a high earner prospect from the UW row boat team.
Federal and state employees can fund their own retirement. That isn't the taxpayer's responsibility. Imagine how much we could save on taxes across the board if we weren't forced to pay their retirement benefits. These slimebags got the country 22 trillion in debt, and are peddling socialism in the education system. They haven't earned the right to take a single taxpayer penny.
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.
They're shmart!
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
Not a slam on you Sled but the old canard that government workers took lower pay for greater benefits doesn't always pencil out. Many positions in the public sector are very competitive salary wise with the private sector and not only do you receive greater benefits it's damn near impossible for you to lose your job or to be laid off in an economic downturn.
Does a BART train operator really make that much less than a train operator in the private sector? Same for the janitorial and maintenance staff.
I had options and I took the job for the benefits. I could have made more money but the benefits were important to me so that's the way I went.
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.
They're shmart!
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
I've never said any such thing. If you don't live in the city I was employed by you're not paying. HTH
No me you donkey. JFC. When you struggle you really struggle.
And you have said such a thing. In fact, you just alluded to the thing you've said many times. Again.
Let easy be easy: you enjoy retirement in part on a payment you get once a month that is not funded out of your invested assets, but rather out of a trust funded and administered by the government. Public Pension. Taxpayers. Government. You.
My employer also paid in on my behalf every quarter. HTH
Dole isn't just a pineapple.
I didn't have a choice! Wish I did. PERS has feelings. There investment strategies involve lots of feelings.
This was not your best effort, but on some level I admire your stamina.
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
You are correct. It's not a bad way to go.
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
Me too. Seriously. I had a good opportunity to work at the SEC, a place from which you can bounce in out of private sector. I'd actually like to do the work now, but the pay cut just makes no sense, and I'm the only one in my house who'd like living in DC.
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.
They're shmart!
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
Not a slam on you Sled but the old canard that government workers took lower pay for greater benefits doesn't always pencil out. Many positions in the public sector are very competitive salary wise with the private sector and not only do you receive greater benefits it's damn near impossible for you to lose your job or to be laid off in an economic downturn.
Does a BART train operator really make that much less than a train operator in the private sector? Same for the janitorial and maintenance staff.
I had options and I took the job for the benefits. I could have made more money but the benefits were important to me so that's the way I went.
Federal and state employees can fund their own retirement. That isn't the taxpayer's responsibility. Imagine how much we could save on taxes across the board if we weren't forced to pay their retirement benefits. These slimebags got the country 22 trillion in debt, and are peddling socialism in the education system. They haven't earned the right to take a single taxpayer penny.
Agreed, there are arguments for maintaining a pension system for firefighters and law enforcement on account of those being jobs that are difficult for a 60 year old to perform but there is no fucking reason for a school teacher or a DMV employee to have a taxpayer funded pension
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
You are correct. It's not a bad way to go.
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
The problem is, people work the system. I know a dude who was the CFO of a large City. For 3 years and one day. He had a 70k a year job for a 20+ years. But the system in that state is your pension is a percentage of top 3 years salary based on years in the system. So he slid into the $150k A year job. Did shit for 3 years, as soon as they realized he was doing shit, he slid back into his 70k a year job where he continued to do shit.
How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
A lot.
I know
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.
You are correct. It's not a bad way to go.
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
The problem is, people work the system. I know a dude who was the CFO of a large City. For 3 years and one day. He had a 70k a year job for a 20+ years. But the system in that state is your pension is a percentage of top 3 years salary based on years in the system. So he slid into the $150k A year job. Did shit for 3 years, as soon as they realized he was doing shit, he slid back into his 70k a year job where he continued to do shit.
Comments
If any amount you paid into the trust was related to your defined benefit, and not your defined contribution, then it was to help pay for another guy who was retired while you were working.
In any event, your contribution of 9% doesn't come close to how much it costs for a lifetime pension benefit unless they get lucky and you and your beneficiary die earlier than the tables say you will. And you yourself said it: your employer paid in on your behalf. Who was your employer? How do government employers get their money?
You were paid by, and are retired on, tax revenue. You were the government.
https://en.wikipedia.org/wiki/Rent-seeking
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
While it’s not Sled’s fault the current system that we are all expected to subsidize is a fucking outrage.
There has to be a better option where we exempt cops and firefighters but your run of the mill DMV employees has to moved into a 401k type system
You are correct. It's not a bad way to go.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
Surprising.