Govt. pensions.

Comment #6

konane — Fri, 20 Mar 2009 03:27:23 GMT

Agree with Time*treat, good one Jarasan!!!!

Comment #5

time*treat — Thu, 19 Mar 2009 19:42:53 GMT

"TOTUS" :)

Comment #4

Todd — Thu, 19 Mar 2009 19:11:43 GMT

I think it's actually worse than your example. A common ploy among close-to-retiring government workers is to work tons of overtime in their last year or two, vastly increasing their yearly take-home pay. Their retirement is based upon their actual take-home pay, not their base salary. So we end up with toll collectors getting 6-figure annual retirement benefits. That's a fact, and it's been happening for years.

Comment #3

jarasan — Thu, 19 Mar 2009 18:09:57 GMT

That is true what you say about federal legislators, of course they have voted themselves a platinum parachute. Does anybody doubt the only reason they seek public office is for personal gain? Did anyone think that TOTUS (Teleprompter of the United States) would have gotten $500,000 for a book that hasn't been written yet if he wasn't prez. elect? Or did he take it so he wouldn't be taxed on his own tax reform... [ More ]

Comment #2

phileight — Thu, 19 Mar 2009 16:57:59 GMT

for 20 years the state had the option to invest this money to help with the eventual payout. upon retirement he does not get the full amount he just get a monthly check for some part of the total. I don't live in new york or know how their retirement plan is structured, but I have yet to see a plan as lucrative as you describe. unless you are a member of congress or president p8

Comment #1

jarasan — Thu, 19 Mar 2009 14:05:40 GMT

NY needs over $3 billion a month to meet pension payments for state retirees.

Original Blog Entry: Govt. pensions.

jarasan — Thu, 19 Mar 2009 14:04:00 GMT

Guess what? Many states are going to be unable to pay pensions for retired state employees!

Here is an example:

18 year old starts working for NY Transit, eligible to retire in 20 years. The 38 year old, over his 20 years contributed $80K to his pension , but the income stream the NY state pension fund will pay out could exceed $2 million! Things have got to change starting with the FEDS they are suqueing the American people dry.

Us privateers lose our job, we are done, is that right? Unemployment is a joke.

Govt. workers lose pensions and bennies upon death.

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