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Topic:
Apparently I live in Greece
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eodoll
Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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paulg_68 posted:
I think pensions are a good idea but the payout amount shouldn't be guaranteed.
The payments into the pension plan should be guaranteed though and they should always be paid at the time the work is done.
It seems like a really awesome 401k plan that pays back 2/3s your salary + 3% per year inflation increase for 20+ years. I wish we all had access to such a thing but it's not economically viable.
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paulg_68
Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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Szerek posted:
No, public employees should have to put their money in the Casino we call the market via a 401k like the rest of us. This way, every time the market tanks we can listen to them yell how they just lost half of their retirement, rather than telling the rest of us to pay more in taxes so they can have their full retirement.
My mom was a school teacher and her pension plan was invested in stocks. It did well when stocks were going up and did bad when they weren't.
The payments aren't guaranteed but she makes more off of that than she does off of Social Security and it cost way less than SS.
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Yukishiro1
Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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Bonzoboy1 posted:
I can remember when the public sector made less but had better benefits and job protections than the private sector, now they make more, have better benefits and protections than the private sector who pays their salary.
That's because people in the private sector have been screwed on wages for the past 30 years.
Govt gives COLAs, private sector doesn't. Real wages are basically stagnant in the private sector in the past 30 years. Getting mad at govt employees because their wages keep pace seems like you are directing your anger in the wrong direction.
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Galois2005
Posts: 41
Registered: 2005-4-4 09:36:44
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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paulg_68 posted:
I think pensions are a good idea but the payout amount shouldn't be guaranteed.
The payments into the pension plan should be guaranteed though and they should always be paid at the time the work is done.
Which is the reality of most every private sector pension out there, my union collects and invests a portion of my wage package in a pension, they bill it as a defined benefit but in reality if the plan investments do not perform as needed the payouts will be reduced, you can't go back to customers 30 years later and ask for more money. IMHO defined benefit plans in the private sector are lala land and a really bad idea because no one really knows how markets will perform - you end up with a system where some win and some lose and no one should be gambling.
The governmemt shouldn't be giving guarantees to public sector workers no one in the private sector can get.
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Szerek
Posts: 338
Registered: 2000-8-8 09:26:09
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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paulg_68 posted:
Szerek posted:
No, public employees should have to put their money in the Casino we call the market via a 401k like the rest of us. This way, every time the market tanks we can listen to them yell how they just lost half of their retirement, rather than telling the rest of us to pay more in taxes so they can have their full retirement.
My mom was a school teacher and her pension plan was invested in stocks. It did well when stocks were going up and did bad when they weren't.
The payments aren't guaranteed but she makes more off of that than she does off of Social Security and it cost way less than SS.
And those states where public employee pensions are guaranteed on the backs of the taxpayers?
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Taliesihne
Title: Wind on the Deep Waters
Posts: 1,117
Registered: 2004-2-19 04:47:59
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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Fist_de_Yuma posted:
paulg_68 posted:
I don't care how much government workers are paid so long as it it in line with their productivity.
In MOST cases it is not.
Fixed. (grin)
Why do you hate our troops Fist? 
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Galois2005
Posts: 41
Registered: 2005-4-4 09:36:44
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Date Posted:
1/1/00 12:00am
Subject:
Apparently I live in Greece
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Taliesihne posted:
Fist_de_Yuma posted:
paulg_68 posted:
I don't care how much government workers are paid so long as it it in line with their productivity.
In MOST cases it is not.
Fixed. (grin)
Why do you hate our troops Fist?
Funny the one group that gets paid like sh@t in Canada are our troops, the ones with no union....
Still looking at this list, 27 Canine trainers some as high as $140K..... U of T finance prof $761K....
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