Skip to comments.POLL: Can we afford to pay promised government pension benefits?
Posted on 10/02/2010 11:07:59 AM PDT by patriotrising
Can Society Afford to Pay Promised Pension Benefits? We may find that honor gives way to economic reality
Without question, the greatest economic benefit of working for the government be it federal, state or municipal is the retirement program. Many governments promise their workers pension and health-care benefits that those in the private sector would define as, well, generous.
Take the poll...
(Excerpt) Read more at ricedelman.com ...
We have $110 trillion in entitlement spending NOT INCLUDING PENSIONS!!!!!!!
No. Something has to give or our country’s economy will collapse.
Glad I’m a retired federal employee, not a state or municipal retiree. The latter are in a world of hurt.
All government workers should receive the pension benefits that they were promised theyd receive. 42.6% (233 votes)
Our society cannot afford to pay the pension benefits that government workers have been promised. The benefits must be changed. 57.4% (314 votes)
There are government entitlements and there are government obligations. A pension is an entitlement if offered as a condition or benefit of employment. It becomes an obligation upon fulfillment of the terms and conditions of that employment. Therefore cutting pension has to occur during the earning phase of the pension entitlement, not after the payout stage of the obligation has begun. By the way, many government pensions, including retired federal employee pension, are called annuities because of this fact.
Im not against cutting pension benefits, but not during the retirement phase of a government pensioner.
What part of THE TAXPAYERS ARE BROKE do you not understand?
How many Edsels are sold these days?
Socialism always fails, ALWAYS. Good luck collecting from the EMPTY cupboard. DRACONIAN SPENDING CUTS are required here.
Right on, Yetidog. You got it right.
About time some of the (ahem) more extremist of our fellow Freepers got yanked back to reality!
Where are you going to get the money from? ROFL. The US is BROKE!
I wonder if they’re including Military retirees?
Depends on what you mean by “government.” If it’s state and local governments, I agree many of them are in a world of hurt. If you mean the federal government, that’s different. The federal government can print more money, if necessary, to pay federal pensions.
So do/did these government retirees put in to SS? I know my Aunt (teacher retirement but not a teacher, a county board of education data center worker) and my bosses father in law (US Customs) did not and don’t get SS hence their govt retirement is all they get.
Federal employees pay into their own retirement account which is supposedly invested for the 20 or 30 years or so that they’re working.
If these retirement accounts are now broke they were just another govt slush fund all along.
I hope that was sarcasm.
“... or our countrys economy will collapse.”
Ummmm...isn’t that what’s happening out there?
Now up to 60% no and 40% yes.
Heck no we can’t afford it. If they paid into a pension fund and it went broke they should be in the very same boat as I am in.
I’ve paid into a pension / savings plan for 35 years and it is what it is. Will anybody bail me out? Is my pension an entitlement? Heck no, not at all. Should it be? I’d like it to be but that is not rational.
Life has consequences and the consequence of a nation that spends too much is inflation and a worth less pension.
Deal with it.
If Illinois can borrow the money fine and i don’t mean the treasury deciding what a great investment it is and putting the people of the country on the hook,then fine.
Promises were made by gutless politicians caving into unions. I see no reason why i have to pay for the mistakes of those craven cowards who were concerned only with being re elected. If the city or state can afford what they promised,good for them. If they have to borrow because they can’t tax their citizens any further then too bad. If the monies not there,its not there.
I suspect people that pay into SS are putting more up for far less than those that receive government pensions which in many cases never required any contributions.
Do they pay in anything resembling what is paid into SS?
gub mint pensioners should report to the soilent green project immediately.
Not to GI’s but to Congressmen & Senators of course.
“Do they pay in anything resembling what is paid into SS?”
I pay self-employment taxes and don’t know the percentage paid into SS, so I can’t answer that.
But I can tell you my husband has paid in well over $100,000. So it’s no small matter if these accounts are broke - and if they are broke, the govt has stolen from private retirement accounts.
Thankfully we have other funds to fall back on, but I feel for those who trusted that their money was being invested for them.
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