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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7 votes
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19 votes
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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?
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?
Top Opinion
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The River Rat 2012/07/13 11:56:57Do you think it is a good thing to pay forever for a person who works 5 to 20...+6I 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.



















Try working 20 years and getting laid off or fired with nothing.
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).
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.
Watch closely for 'terrorist-like' attacks!