- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Retired Oregon public university worker to receive largest pension in state: $913,000 a YE
Posted on 4/16/18 at 10:07 am to lsu13lsu
Posted on 4/16/18 at 10:07 am to lsu13lsu
Most definitely not the case in my field. The engineering jobs I've seen are at best paying about 75% of private sector pay.
0
Posted on 4/16/18 at 10:10 am to lsu13lsu
quote:
but when you really compare individuals they are making their market rate.
I make more than my public sector equivalents Max on their salary range
quote:
sure you can lump people in groups to skew data
If all the individuals make the same, they make the same on average
If public sector avg less on avg, someone is making less
Source: I math good
Posted on 4/16/18 at 10:12 am to Areddishfish
quote:
My grandfather retired as a firefighter years ago in Texas. His yearly pension is over $100k.
Not blaming your grandfather or anyone at the time but 100K a year for a firefighter ?? if he retires at 55 and lives to be 85 he probably would have made more retired then when he worked for 25 years. The system is broke other than the military i think all pensions should be reexamined. Especially the city/state/federal worker ones.
This post was edited on 4/16/18 at 10:14 am
Posted on 4/16/18 at 10:15 am to SeeeeK
quote:
This is why State workers should not be union.
the union greases the politicians, who vote in raises, and public, who is on the hook has no say.
See California,NY,Chicago, and a Liberal City near you, coming soon.
It's driving the state of Illinois off a goddamn financial cliff. And the effing politicians here had the pension increases built into the state constitution, so it's impossible to challenge it. And there are guaranteed cost of living increases independent of how the economy is doing. It's a disaster.
And they play the system to bilk it. Many employees will get a significant promotion or raise the year before they retire, so their pension benefit locks in at a higher rate. We have bus drivers retiring at 60.
This post was edited on 4/16/18 at 10:17 am
Posted on 4/16/18 at 10:24 am to lsuoilengr
It sounds like he brought hundreds of millions of dollars to the program through donations and increased research awards.
Posted on 4/16/18 at 10:32 am to lsuoilengr
It also should be argued as to why he was getting such a high salary for a public job. I understand it was for some public university president, but geez, that's way over the top.
Posted on 4/16/18 at 10:34 am to Chucktown_Badger
quote:
It's driving the state of Illinois off a goddamn financial cliff. And the effing politicians here had the pension increases built into the state constitution, so it's impossible to challenge it. And there are guaranteed cost of living increases independent of how the economy is doing. It's a disaster.
And they play the system to bilk it. Many employees will get a significant promotion or raise the year before they retire, so their pension benefit locks in at a higher rate. We have bus drivers retiring at 60.
When it becomes more lucrative to be a public employee than a private employee, the capitalistic system has utterly failed.
Posted on 4/16/18 at 10:35 am to East Coast Band
quote:
When it becomes more lucrative to be a public employee than a private employee, the capitalistic system has utterly failed.
uh, excuse me Captain Obvious but this has been the reality for a few generations
Posted on 4/16/18 at 10:41 am to Chucktown_Badger
quote:
We have bus drivers retiring at 60.
This is what i have a problem with. These types of positions being able to retire off the taxpayers dollars. I mean why was this not brought up decades ago? my taxes go up so that i can pay for jobs that have no business being able to get a pension at 50 and 60.
This post was edited on 4/16/18 at 10:45 am
Posted on 4/16/18 at 10:43 am to 777Tiger
quote:
uh, excuse me Captain Obvious but this has been the reality for a few generations
Yeah, I know. It's just fricked up. Not to mention the stress levels for government employees are typically a fraction to that of their private counterparts.
Posted on 4/16/18 at 10:48 am to East Coast Band
yeah just go to any gov office out here and there are many of them just sitting around with nothing to do. So Joe blow sat in a government office for 20 years and after that 20 years the tax payer should help supplement his pension for doing not a whole lot in that time span. If they keep increasing my taxes out here i maybe heading out of the state in the next 5 to 10 years.
Posted on 4/16/18 at 5:16 pm to the LSUSaint
quote:
Oregon Health & Science University? WTF is that?
It is a Health Science Center. 40+ States have them (many states have several of these). This institution offers medical degrees, dental degrees, nursing degrees, and others.
And for those saying this guy was paid to much, he was a retinal surgeon so they likely had to pay him a very nice salary to retain him.
Posted on 4/16/18 at 5:18 pm to FLObserver
Pensions need to be eliminated for all govt works in all areas. Start with new hire's today.
Eliminate govt double dipping as well. It's ridiculous.
Eliminate govt double dipping as well. It's ridiculous.
Posted on 4/16/18 at 5:26 pm to kywildcatfanone
quote:
Pensions need to be eliminated for all govt works in all areas. Start with new hire's today.
Haven't a number of states already made this move?
Posted on 4/16/18 at 5:35 pm to kywildcatfanone
quote:
Pensions need to be eliminated for all govt works in all areas. Start with new hire's today.
Eliminate govt double dipping as well. It's ridiculous.
You will have to pay them about 20% more. Most public employers have to put between 20-40% into the pension fund.
You are also ignoring the huge hole of ending a pension. You are talking about trillions of dollars of unfunded liabilities in these pensions. We either need to invest in these now, or we will be owing several times more later. That's easier to do with utilities who can earn revenue, but the teachers and state/local governments are tougher.
Posted on 4/16/18 at 8:05 pm to AbuTheMonkey
quote:
This fellow has at least a solid idea of what he is talking about.
I would hope so, it is loosely speaking my field of work that designs them before politicians/businesses drive them into a wall
quote:
American state-level pension funds are designed to fail almost by definition
Pension funds are designed to be solvent, they are not designed to withstand poor management + sustained adverse market conditions
Posted on 4/16/18 at 8:21 pm to lsuoilengr
He's dragging up all kinds of young poon
Posted on 4/17/18 at 6:04 am to GenesChin
LINK
Here is a little factoid I found out about the Louisiana School Retirees System that I found on link from the Louisiana Association of Public School Boards.
For nearly forty years the school and employee each pitched in an equal match of 6 to 7 percent of pay. But in the later years the school boards had to start pitching in more to the tune of nearly 30 percent of pay. This is crazy an unsustainable for the local systems.
Of course the real solution was to have the systems paying a higher amount to begin with that way they wouldn’t have gotten into trouble with those 30 percent rates.
And the other thing is a max payout, like social security where benefits max out at a certain amount, but they are also taxed at a max amount. That way we eliminate the people who game the system and take an administrative position for 3-5 years to get a boost in pay for retirement while the rest of the years were paid at lower rates.
Here is a little factoid I found out about the Louisiana School Retirees System that I found on link from the Louisiana Association of Public School Boards.
For nearly forty years the school and employee each pitched in an equal match of 6 to 7 percent of pay. But in the later years the school boards had to start pitching in more to the tune of nearly 30 percent of pay. This is crazy an unsustainable for the local systems.
Of course the real solution was to have the systems paying a higher amount to begin with that way they wouldn’t have gotten into trouble with those 30 percent rates.
And the other thing is a max payout, like social security where benefits max out at a certain amount, but they are also taxed at a max amount. That way we eliminate the people who game the system and take an administrative position for 3-5 years to get a boost in pay for retirement while the rest of the years were paid at lower rates.
This post was edited on 4/17/18 at 7:00 am
Posted on 4/17/18 at 6:28 am to FLObserver
quote:
quote:
We have bus drivers retiring at 60.
This is what i have a problem with. These types of positions being able to retire off the taxpayers dollars. I mean why was this not brought up decades ago? my taxes go up so that i can pay for jobs that have no business being able to get a pension at 50 and 60.
Are you one of those who are also complaining about older workers NOT retiring to open up positions for younger people?
Damned if they do, damned if they don't.
If the retirement pay isn't high enough to support their lifestyle, then they stay in the job until it does. An 85 year old university president isn't drawing anyone in, yet if he can't afford to retire at 60-70 he ain't retiring.
Same thing with an auto worker, welder, plant baw, etc.. Ya think those Wal Mart Greeters are are there for kicks? If they had enough to be retired comfortably they'd be at home drinking coffee, off their feet, and some dumb kid staring at his phone would be saying "Welcome to Wal Mart" instead.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News