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KeyserSoze999
LSU Fan
Member since Dec 2009
3282 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

Tigah in the ATL




You are a leech.





he's definately something






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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
4996 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

I've never been given a reasonable answer why public employees need separate pension plans apart from Social Security
Back in the day the retirement plans were offered to attract employees, since the salaries were WAY lower than comparable jobs in the private sector. That no longer applies, and hasn't applied for a very long time.

Same thing with annual and Sick leave policies. Compensatory leave, though, is awarded in lieu of overtime pay in the state agencies I'm familiar with.






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TheFolker
Kentucky Fan
Member since Aug 2011
2676 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


There are 14 states in which public school teachers don't pay social security tax. Kentucky is one of them.





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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
4996 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

There are 14 states in which public school teachers don't pay social security tax.
Louisiana state employees didn't pay it until some time in the 90s, I believe.

I think the state retirement system here has been revised, though, and new employees won't have the same plan.

eta: I'd rather see my taxes go to pay retirement for people who entered into a good faith agreement with the state for a pension (and contributed toward that plan) than to those who've never bothered to worry about their retirement years.



This post was edited on 11/16 at 8:07 am


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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
8870 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


Dad: Son, Iv'e got some good news and some bad news
Son: What is it dad?
Dad: The good news is that Grandma and Grandpa have a great pension and healthcare plan.
Son: That's great dad, what's the bad news.
Dad: The bad news is that you get to spend the rest of your life working hard to pay for it. Expect to pay 75 or 85% of your income in taxes and your lifestyle will never approach what they or I had.
Son: 75% or 80%? frick that dad, I'm going on welfare and food stamps.






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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
2125 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

Louisiana state employees didn't pay it until some time in the 90s, I believe.


No the vast, vast majority of state employees do not pay into social security. Local teachers either.






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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
2125 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

I've never been given a reasonable answer why public employees need separate pension plans apart from Social Security.

Those plans should be frozen and every public employee put into Social Security just like the rest of us.


Two reason, one legal and one policy:

1. Legal-It's a issue of federalism. The federal government cannot tell the states how to pay their employees.

2. Policy (speaking only about LA)- As messed up, underfunded and in need of reform as the LA pension system is; it is WAY more solvent than Social Security.







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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

1. Legal-It's a issue of federalism. The federal government cannot tell the states how to pay their employees.

2. Policy (speaking only about LA)- As messed up, underfunded and in need of reform as the LA pension system is; it is WAY more solvent than Social Security.


quote:

a reasonable answer

I'm still waiting......






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

I'd rather see my taxes go to pay retirement for people who entered into a good faith agreement with the state for a pension (and contributed toward that plan) than to those who've never bothered to worry about their retirement years.


Thank goodness those aren't the only two options....






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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
2125 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


Help a brother out. What is unreasonable about my answer? Why do you want to give more control to the federal government?

A. LA pension system-collect money and throw half of it in a ditch.

B. Social Security-Collect money and throw all of it in a ditch.

Why would you want to throw more people into that trainwreck know as social security. If anything you should be looking to move people OUT of it.







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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

What is unreasonable about my answer?

Why are state employees "special"? If SS is good enough for the rest of us, why not for them?

I hope public pension funds all go broke and those employees get nothing, the greedy bastids.






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OTIS2
LSU Fan
NoLA
Member since Jul 2008
23665 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


Elect better decision makers.





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Antonio Moss
LSU Fan
Baton Rouge
Member since Mar 2006
27765 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

Elect better decision makers.


It has little to do with decision making. An honest politician who tells his constituents that the only way to remain fiscally solvent is to drastically cut their benefits/entitlements/advantages is unelectable.






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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
2125 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

If SS is good enough for the rest of us, why not for them?


Because even if I got hit by a bus and we declared brain dead, I would still not not call Social Security "good enough." It's a horrible, immoral system that might have been better than nothing for past generations, but is essentially theft for my and future generations. We need to move away from it, not put more people into. That would just entrench it even more.

Add to that the usurpation of state control to the federal government, and you have a two-time loser for me.

I see it the same as the tax issue. Just as you want to screw state workers because it would be fair, Obama wants to tax the rich because it would be fair.

quote:

the greedy bastids.


Now that said, I PROMISE you I am all for retirement reform and I think the cash balance plan of Jindal's would actually serve as good compromise for "privatizing" social security.






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NC_Tigah
LSU Fan
Member since Sep 2003
48228 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

can't wait to pay for this

#frickedGeneration
Yep. You're being dealt a mess. No question.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


The administrative overhead at the various pension kingdoms for public employees is reason enough to shut them down.
Just in La., the amount of money spent on consultants, investment managers, bank asset custodians and internal staff is staggering.







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dewster
Maryland Fan
Tennessee
Member since Aug 2006
8701 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

But some poor old lady who taught school for 40 years should not lose her pension unless there is absolutely no other choice


I agree completely...especially since many don't get social security benefits.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

especially since many don't get social security benefits.


They don't get SS benefits because they didn't pay into SS. That seems very fair to me.






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dewster
Maryland Fan
Tennessee
Member since Aug 2006
8701 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

I hope public pension funds all go broke and those employees get nothing, the greedy bastids


I agree that we need to get on a more sustainable path, but your suggestion is pretty heartless considering the promises made.

You want to take away from people who can no longer work? What are they supposed to do? Not every public employee is a bus driver in California that earns $140,000 per year the rest of their life.



This post was edited on 11/16 at 9:03 am


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76134 posts

re: It's Become Clear States Will Not Be Able to Honor Pension Promises to Retirees


quote:

You want to take away from people who can no longer work?

If they were public employees, when did they ever "work"?






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