[ARCHIVED THREAD] - Why does GD hate pensions? (Page 1 of 6)
Posted: 1/10/2017 12:43:15 PM EDT
Well lets hear the reasons  .
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I'm fine with private sector pensions. Public sector, not so much.
Taxpayers end up getting the shaft hardcore. Maybe I'm biased being from IL, but the grandiose pensions we've promised here are digging a deep financial hole for the state, and our state constitution prohibits us from doing much about it other than farking the taxpayers. |
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Unions didn't "give us" pensions. Nor did they "give us" the 5 day work week, or any of that other shit that that people put into a meme on Being Liberal's facebook page.
Good parrot-y thread though. 9/10, would read again EDIT: lol, I found the meme I'm thinking of 
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I'm fine with private sector pensions. Public sector, not so much. Taxpayers end up getting the shaft hardcore. Maybe I'm biased being from IL, but the grandiose pensions we've promised here are digging a deep financial hole for the state, and our state constitution prohibits us from doing much about it other than farking the taxpayers. Good luck getting qualified applicants in the public sector without that pension. Some states have moved to a non pension retirement for new hires and it's not working out so well for them. |
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Unions didn't "give us" pensions. Nor did they "give us" the 5 day work week, or any of that other shit that that people put into a meme on Being Liberal's facebook page. Good parrot-y thread though. 9/10, would read again 
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They are expensive and need to be slowly phased out. Especially in the public sector. However, if the contract is signed, honor the contract. Precisely this. My problem with them is that they are also a tool of control, keeping employees from sticking their necks out. |
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40 years 
Yeah you are young, max a ROTH yearly if you can but at minimum contribute something monthly. Compound interests is on your side. Quoted:
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I will like mine 40 years from now. But I'm also not relying on that to retire.
Yeah you are young, max a ROTH yearly if you can but at minimum contribute something monthly. Compound interests is on your side. That's the plan! Already doing that. As well as other investments. |
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Enjoying mine...30+ years in Fire Service, did the DROP. Retired in May of 2016. Cashed out 525hrs of annual leave 480hrs of sick leave, rolled my DROP money into a different investment, and still collecting a monthly pension of roughly 80% of my pre-retirement income, plus a 3% cola every June 1
I'm not complaining... |
| I don't think the issue is pensions themselves but rather their abuse and mismanagement primarily in the public sector but also in the private sector as well. This abuse and mismanagement leaves a financial hole that usually ends up with the tax payers paying for the benefit twice or more. If you didn't have these problems I bet you'd barley hear a peep about them out of GD. |
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Rush Limbaugh once said that it never made sense to him that one day he would get paid for not working.
In principle, it's hard to argue with that. Hopefully I treat my family well enough that they will take care of me when I can't anymore, which may be a lot sooner than I ever imagined. |
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I refuse to invest in the one at my current company due to the fact that it earns a whopping 2.3% per year (when it doesn't lose money), is loaded with fees, and I have to stay there 5 years to vest in it. Hint, I don't plan on staying here 5 years!
I also don't care for the illusion of control when it comes to picking your investments. Sure they let you pick a fund, but the plan administrator decides how to invest within said fund and often makes retarded decisions, thereby losing your money. Now, what do I do? I have a couple of small businesses that I invest in that offer me more return for the money put into them. I'm hoping to grow two of them to the point where I can quit my current job in 2017! Wish me luck. 
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Rush Limbaugh once said that it never made sense to him that one day he would get paid for not working. In principle, it's hard to argue with that. Hopefully I treat my family well enough that they will take care of me when I can't anymore, which may be a lot sooner than I ever imagined. It's just another recruitment tool that got out of hand, like health insurance. |
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Well lets hear the reasons .Because its largely only government (local, state, federal) who still have pension plans anymore. Everyone else just has a 401K - and they get that too. It's all Our money, and 90% of them have never put in an honest days work in their adult life. |
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I will like mine 40 years from now. But I'm also not relying on that to retire. 40 years? What the fuck? http://img.photobucket.com/albums/v361/Extorris/Gifs/boomHS_zpsak9ot7eb.gif I'm 25, I plan on retiring at 65. |
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As long as they're administered responsibly, I don't have a problem with them. Not sure why anyone would. That's pretty much where I am, for the private sector. Public employee pensions, OTOH, are troublesome. It basically has become buying more government than a jurisdiction can afford with post-dated checks, then closing the account. 
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That's fine with me. The herd needs thinned anyway. Quoted:
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Good luck getting qualified applicants in the public sector without that pension. Some states have moved to a non pension retirement for new hires and it's not working out so well for them. That's fine with me. The herd needs thinned anyway. Absolutely. Just how many public sector employees do we really need? Most of them do nothing of consequence, every day of their employment. They are parasites |