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Do you feel sorry for public sector union members who are seeing their benefits slashed?

iamnothere 2012/07/13 11:00:26
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We are hearing more and more about cities going belly up Bankrupt due to years of paying off democrats to push higher and higher benefits that just continue to mount even as more of these union members retire.

Would seem a very simple thing to hire an insurance company to run the numbers (yes insurance companies believe it or not this is what insurance companies do for a living.. figuring how much you need to put away to provide an annuity for life)

The math is not so tough to figure out.. put in X amount for a defined period.. provides the desired amount for the life of the person.

So what is happening to those who are retiring on the dole if the city goes belly up?

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  • The River Rat 2012/07/13 11:56:57
    Do you think it is a good thing to pay forever for a person who works 5 to 20...
    The River Rat
    +6
    I have very little sympathy at all for the public sector union members, even though I am one. The public sector unions are the reason that so many municipalities are near bankruptcy, the teachers' unions are the main reason that public education is failing the youth of this country, the postal unions are the reason that the postal system is bankrupt.

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  • Claybern 2012/07/20 17:24:47
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    Claybern
    +1
    Unions were good at one time in this country. Now they are outdated and not needed. Unions are the reason this country is in such dire straights.
  • Charles Braley 2012/07/16 13:33:56
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    Charles Braley
    +1
    Nope - dont feel sorry for 'em in the LEAST bit!
  • hasher 2012/07/14 21:39:27
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    hasher
    +1
    let them pay for part of their benefits like the rest of us have to.
  • Dwight-AFCL>dogsbody 2012/07/13 20:27:39
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    Dwight-AFCL>dogsbody
    +1
    Sorry, but I think it must still be better than SS, and if it isn't you picked the wrong team.

    Try working 20 years and getting laid off or fired with nothing.
  • none 2012/07/13 20:19:14
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    none
    +1
    They're benefits are outrageous.
  • jubil8 BN-0 PON 2012/07/13 18:40:51
    Do you think it is a good thing to pay forever for a person who works 5 to 20...
    jubil8 BN-0 PON
    +1
    I think there are 2 classifications of 'public employees,' and I feel differently about them.

    In one I put police, firemen, teachers (and any other essential services). They -- particularly police/firemen -- put their lives on the line for us, and I don't have a problem saying Thank You. The other group is clerical workers, elected officials, etc. Them I'm not as sorry for. :)

    I agree totally with number-crunching to see what a viable pension should be and revising it as needed (COLA, for instance).
  • bpf 2012/07/13 16:55:14
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    bpf
    +1
    This is a two fold problem one that the Unions had the guts to demand these insane gifts at every other American expense and the gutless Politicians who made these agreements to get reelected. The so-called guardians of our purse strings knew one that they would be out of office when the bill came and second they knew that they could just shift the blame to the people in office when that bill was due. They should get the same as any other working stiff...a 401k in which they put money in and are matched to some extent and to pay for a portion of their medical plans. not given free everything in which every other American has to pay for.
  • J 2012/07/13 16:49:03 (edited)
    Do you think it is a good thing to pay forever for a person who works 5 to 20...
    J
    +1
    I think that after many - without a doubt, no less than 20- years of service, a person should be able to retire and earn something. Most people in the private sector pay in a little each pay period and the company matches it, so why not expect the same of public sector employees.

    The problem is those employees who have retired or have already been with the cities/counties, etc., who were "banking" on getting a full retirement after 20-25 or more years and then cutting them to practically nothing. That, I don't believe is right-just. I can see cutting current retirements to no less than 400% of the poverty level for areas that are truly bankrupt.I think we need to begin initializing new retirement deals for all newer and future hires at all levels. Don't punish them for working for a "government" entity as a "career" choice, but don't reward them more than those who are working for private-sector entities.

    What needs to happen is that police, firemen, garbage men, etc. should not have 1% of their pay cut until administrative officials have theirs cut at 2x the cut they expect of the actual WORKING employees.

    On Public Sector Unions - No, they need to go.
  • Nimitz 2012/07/13 16:46:22
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    Nimitz
    +4
    Public sector unions shouldn't exist. Period. Public sector employees work for the taxpayers. Unionizing them pits them AGAINST the tax payer in collective bargaining.
  • mchappell2 2012/07/13 16:26:07
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    mchappell2
    +2
    I feel sorry for the union people because they were blindsided by their union...They are getting screwed everyday....And if municipalities go belly up...So does their pensions....They follow blindly and will do the will of the unions...Sorry..I checked the wrong box...They are people to....Just like us...The unions are machines made to break and brainwash
  • sammanilla 2012/07/13 15:55:16
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    sammanilla
    +3
    Union corruption is rampant.

    union corruption rampant
  • BoomLover 2012/07/13 14:47:30
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    BoomLover
    As a retired former public sector worker, after 331/2 years, I receive about 1/2 of my earnings/wages. I contributed to a pension plan which had matching funds from the employer. I was fortunate enough to get some medical coverage which will run out in a little over 2 years from now, so I will be looking for coverage for my wife and myself at that time. I don't know of anyone who can work 5 years, and get 70% of their wages! If that were the case, I'd think everyone would be scrambling for those jobs! So, if I may be so bold as to ask...who gets 70% of their wages and only has to work 5 years in a public sector job other than Congressmen or Senators....? If they are who you are referring to, also consider there are not very many of them, so what actual percentage of the population are you talking about here?
  • iamnothere BoomLover 2012/07/14 01:37:23
    iamnothere
    many contribution defined benefit plans vest in 5 to 7 years
  • chubo 2012/07/13 14:43:16
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    chubo
    +2
    Gov Walker laid the ground work. Twice, the good citizens of Wisconsin, mostly those who are MAKERS, not TAKERS backed him. Now, it's up to other states that are facing bankruptcy to follow suit.
  • John Hall 2012/07/13 14:25:52
    Do you think it is a good thing to pay forever for a person who works 5 to 20...
    John Hall
    +2
    i feel sorry for the one's who lost there job's not the one's raping the system on my tax dollar.
  • SiliconSorcerer 2012/07/13 13:54:30
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    SiliconSorcerer
    +1
    especially after a end of career boost that basically makes it 100% insane!
  • Torchmanner ~PWCM~JLA 2012/07/13 12:26:58
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    Torchmanner ~PWCM~JLA
    +4
    I don't feel sorry for them. Public sector means that they work for the public, not a private company. There should not be a 'public sector union'.
  • The River Rat 2012/07/13 11:56:57
    Do you think it is a good thing to pay forever for a person who works 5 to 20...
    The River Rat
    +6
    I have very little sympathy at all for the public sector union members, even though I am one. The public sector unions are the reason that so many municipalities are near bankruptcy, the teachers' unions are the main reason that public education is failing the youth of this country, the postal unions are the reason that the postal system is bankrupt.
  • All American 2012/07/13 11:31:47 (edited)
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    All American
    +3
    Defined benefit plans are unrealistic; they pull numbers out of thin air and try to make reality fit. They are nothing more than Ponzei schemes based on fuzzy math. It would be better if they went to defined contribution plans like a 401K where you contribute an amount specific and the employer may or may not match a certain percentage.
  • BoomLover All Ame... 2012/07/13 14:37:10
    BoomLover
    +1
    As a retired former public worker, that is exactly what I had to do...every single month I worked, for 33 1/2 years, no matter what the title or position, a set specific percent amount was taken from my check and deposited in a pension plan. After 33 1/2 years I'm now retired and earn about 1/2 of my original salary. When my Medical plan runs out in a little over 2 years, I will be just like the rest of America, hunting for an affordable medical coverage plan for my wife and I. So, wherever or whoever is putting out the 75% of salary figures, it doesn't jibe with reality. I could have worked until I dropped, but life isn't really meant to be lived as a slave/drone, is it?
  • All Ame... BoomLover 2012/07/13 14:48:20
    All American
    +1
    I think 401k's are a more realistic way to plan for retirement. Sorry to hear about your situation.
  • JoeBtfsplk 2012/07/13 11:17:46
    Do you think it is a bad thing to pay forever for a person who works 5 to 20 ...
    JoeBtfsplk
    +4
    I feel sorry for the people that will feel the wrath of disgruntled Union workers.

    Watch closely for 'terrorist-like' attacks!

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