HomeHome  CalendarCalendar  FAQFAQ  SearchSearch  MemberlistMemberlist  UsergroupsUsergroups  RegisterRegister  Log inLog in  

Share | 
 

 Pension funds

View previous topic View next topic Go down 
AuthorMessage
theshyguy



Posts : 781
Join date : 2013-04-24

PostSubject: Pension funds   November 4th 2016, 12:55 am

I have one at my work but its small, most of what I will have at retirement is in my 401(k) unless its also taken by the govt. But this makes me want to cash my pension out as soon as I leave the job whenever that is. Take it while I know I can get it.



http://www.foxnews.com/politics/2016/10/24/pension-crisis-fully-funded-ones-rarity.html
Back to top Go down
View user profile
TheQuig

avatar

Posts : 1616
Join date : 2013-02-28
Age : 64
Location : The Jersey Shore

PostSubject: Re: Pension funds   November 4th 2016, 11:13 am

That was a big part of the reason that I left my last job in municipal government. At any moment the state can stop paying into the pension fund. The NJ Supreme Court ordered the state to pay back the billions they borrowed from our system, yet the state refuses to pay it back. Then the state makes it look like the economic troubles in NJ are so bad because of the pension system. We are counting on my wife making 25 years and we would be able to get health benefits, but I'm afraid we will never see them.

____________________________________
Don't believe everything you read on the internet- George Washington.
Back to top Go down
View user profile
pup

avatar

Posts : 1337
Join date : 2013-02-28
Age : 49
Location : Allen TX

PostSubject: Re: Pension funds   November 4th 2016, 1:50 pm

The City of Dallas just said in order to meet their obligations for their Police and FF pension fund for next year, they'd have to raise property taxes by 130%.

And that is just for next year.

http://www.wfaa.com/news/rawlings-says-130-property-tax-increase-would-be-needed-to-fix-policefire-pension/347392576

The thieves have robbed it blind and the tax payer, once again, is left holding the bag.

I just got back from my 30yr HS reunion, several guys were nearing early retirement in the next few years. All of them were planning on their various pension funds. I tried to tell them don't get too far out in front with that planning, because when it comes time to collect, you'll find someone else already cleaned that out and all you have is worthless IOU's to count on.

We are out of other peoples money. That is the state of the Union today. Beyond bankrupt and a full half of our population demanding more and more, not only for them, but for every "refugee" they can import and put on the DNC voter rolls.

Fucked doesn't even begin to describe where we are and how its gonna end.

Weapons and ammo is the only good investment these days.
Back to top Go down
View user profile Online
theshyguy



Posts : 781
Join date : 2013-04-24

PostSubject: Re: Pension funds   November 5th 2016, 4:12 pm

My pension is small, most of my retirement through work is from the 401(k). Shortly after I started working there they stopped offering a pension. I was surprised to see that I even had a pension, I figured they fazed it out years prior.

I thought I had posted something awhile back about how bad pensions were but I didn't find it when I searched. Everyone looks at the federal debt and says its either too high or manageable or if your Paul Krugman you say its actually too low. MORON! But when you factor in public pensions the story gets SO much worse. Then you factor in private pensions and it makes you want go dig your own grave because when the time comes you wont be physically able to do it and you wont be able to afford to pay anyone to do it. Pension funds all over the US at all levels of govt have been over-promised and underfunded. Govts don't fully fund it but even if they did the fund managers always over-promise what return they will get so if you're off 2% for 20 years you are underfunded by 50%.

I plan to keep funding my 401(k) to the match level as I pay off my debts. As soon as that happens I'm investing in real estate and keeping as much money as I can in cash away from the greedy eyes of Uncle Sam.
Back to top Go down
View user profile
theshyguy



Posts : 781
Join date : 2013-04-24

PostSubject: Re: Pension funds   November 5th 2016, 4:13 pm

Pup, is the pension issue the reason the police chief quit after the shooting over there?
Back to top Go down
View user profile
Diseasel



Posts : 1171
Join date : 2013-02-28
Location : Scottsdale, AZ

PostSubject: Re: Pension funds   November 6th 2016, 1:47 pm

You'd think the pension plans would be more vocal about the issue. It's gonna come to roost soon enough. And for social security, they'll probably keep increasing the payroll taxes, the entrance age, and in general neuter it with more restrictions. It's tempting to collect social security as early as possible just so you get something before it's pissed away.
Back to top Go down
View user profile
pup

avatar

Posts : 1337
Join date : 2013-02-28
Age : 49
Location : Allen TX

PostSubject: Re: Pension funds   November 8th 2016, 11:42 am

theshyguy wrote:
Pup, is the pension issue the reason the police chief quit after the shooting over there?

He had actually decided to retire before the shootings, but delayed his announcement when those happened. I think he was just tired of the politics of it all. He was a good man in a bad system.
Back to top Go down
View user profile Online
Sponsored content




PostSubject: Re: Pension funds   

Back to top Go down
 
Pension funds
View previous topic View next topic Back to top 
Page 1 of 1
 Similar topics
-
» Pension funds
» Donna Berry new captain
» Are you happy with this cut??
» Hurler complains in Sunday Papers about funds.
» PGA Tour: 123 Barclays Cards: Notes from the Ballwasher

Permissions in this forum:You cannot reply to topics in this forum
 :: General Topics :: Around the Keg-O-Rator-
Jump to: