Hellrazor-
@ceinetworks.com
| PSERS- PA state retirement
Actually genius, we do pay into our own retirements via a fixed mandatory deduction of over 7%. It can be lower in some cases if you were hired before a certain date. Place fault where is belongs, on the morons managing the accounts. You see tons of Dot-Coms failing, so you still keep large portions of your porfolio with them? I think not. "Oh they will rebound.." yuppers.. from the trash can right into the dump. Now as far as the Enrons and Worldcoms, draw and quarter the top staff. Just make sure a 5th rope is tied to a certain part of the anatomy and is pulled one 1st. |
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tim_k
Buttons, Bows, Beamer, Shadow, Kasey
Premium
join:2002-02-02
Stewartstown, PA
 ·Millenicom
 ·WildBlue
| said by Hellrazor-:
Actually genius, we do pay into our own retirements via a fixed mandatory deduction of over 7%. It can be lower in some cases if you were hired before a certain date. Place fault where is belongs, on the morons managing the accounts. You see tons of Dot-Coms failing, so you still keep large portions of your porfolio with them? I think not. "Oh they will rebound.." yuppers.. from the trash can right into the dump. Now as far as the Enrons and Worldcoms, draw and quarter the top staff. Just make sure a 5th rope is tied to a certain part of the anatomy and is pulled one 1st.
Well I believe his point was the taxpayers shouldn't have to be the ones who suffer because the retirement fund was mismanaged. Lord knows my retirement account took a big hit, and no one is going to fund that shortfall. |
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Hellrazor
join:2002-02-02
Abyss
| Well since its a state employees blunder and a state can't exactly go bankrupt. It does not leave much room for any other options. PSERS in PA pays for all direct and indirect state employee pensions. If you work for state gov, DOT, etc or a school district.. its all the same. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
 ·Comcast
| said by Hellrazor  :
Well since its a state employees blunder and a state can't exactly go bankrupt. It does not leave much room for any other options.
Sure it does... they can reduce payouts to retirees and increase the costs born by the employees. I don't see why taxes on private sector workers should be increased to pay for someone else's retirement, especially when we're getting kicked in the crotch to pay for ours and even moreso when we've already been taxed once to pay for that retirement. Any other solution will actively discourage good management of that money, since the managers and state employees know they can just soak the taxpayers for more cash.
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Jewel got Britney-fied! There is hope for the world yet! |
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Hellrazor
join:2002-02-02
Abyss
| Why? Private sector employees retirements are matched to some degree by their employeer and the costs are passed on the the consumer. So the consumer gets soaked more money to pay for your retirement. Its an endless cycle and its not like a State makes money to offset retirement costs. And the last time i checked state employees pay taxes too. So its not like we are exempt from the same costs. You really want to bitch, go check what prevailing wages are all about in states that require them for large construction projects. That sucks up more money then anything we are arguing about. Joe get might $18/hr on private construction work, but for our state Joe gets $27/hr just because he is there. And our wonderfull state sends L&I inspectors to the job sites to make sure the employees are getting the proper rates. Now that is rape of our wallets. Try working for a state entity and seeing how screwed up things are and wonder htf your taxes are wasted. |
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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| said by Hellrazor :
So the consumer gets soaked more money to pay for your retirement.
True, but I cannot legally hold a gun to a consumer's head and force them to pay me anything like the state can. If I want a consumer to pay me anything I have to provide them with something that is worth it to them. Logically speaking, I earn my future retirement benefits by providing my customers with something that is worth as much or more to them than what they are paying me.
said by Hellrazor :
Try working for a state entity and seeing how screwed up things are and wonder htf your taxes are wasted.
I don't need to, I already know all too well. PennDot goofed up my vehicle record and accused me of driving without insurance and the West Chester Area School District accused me of not paying them taxes for the years I wasn't living there. In both cases I had to do their work for them and prove that I was legal. I already paid for them to do their job once but I ended up having to do their work for them for free. If I was really a consumer, I could have fired both agencies for being incompetent and costing me time, money and stress that I didn't need.
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Jewel got Britney-fied! There is hope for the world yet! |
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flex5e
Volvo Fever
join:2003-06-24
UK
clubs: |  reply to Hellrazor-
As Shaft said...
You're daaaammn right. |
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