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Detroit retiree on pension cuts: 'I can't live on what I get now'
cnnmoney ^ | 2/21/2014 | Melanie Hicken

Posted on 02/23/2014 8:23:59 AM PST by Signalman

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1 posted on 02/23/2014 8:23:59 AM PST by Signalman
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To: Signalman

If he truly worked “decades” that is a fairly meager pension for a civil servant.

Of course the devil may be in the details.


2 posted on 02/23/2014 8:26:48 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Signalman

Considering he can’t live on what he gets now, any cut would be superfluous.


3 posted on 02/23/2014 8:29:19 AM PST by Redmen4ever
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To: Signalman

Maybe a reverse mortgage would help... I mean with Detroit property values being what they are.


4 posted on 02/23/2014 8:34:25 AM PST by Tijeras_Slim
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To: Signalman

Perhaps Donald should have planned better for his old age. Maybe even saved some of his income over the years. It’s not like getting old is an unexpected event.


5 posted on 02/23/2014 8:35:12 AM PST by ProtectOurFreedom
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To: FReepers

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6 posted on 02/23/2014 8:36:03 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: Signalman

I think I would start raiding the bank accounts and personal properties of the city council members and union leadership who approved impossible deals.


7 posted on 02/23/2014 8:37:07 AM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Signalman
Detroit retiree on pension cuts: 'I can't live on what I get now'

Your mistake is thinking that the Democrats who promised you the pension to buy your vote back then care about whether you live now.

8 posted on 02/23/2014 8:37:52 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: Signalman
he retired at 50!!! i think i see the problem right there...
9 posted on 02/23/2014 8:38:02 AM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: Mr. Jeeves

Your mistake is thinking that the Democrats who promised you the pension to buy your vote back then care about whether you live now.


They’ll make sure he keeps voting long after he’s gone.


10 posted on 02/23/2014 8:38:54 AM PST by Rides_A_Red_Horse (Why do you need a fire extinguisher when you can call the fire department?)
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To: Signalman

I don’t understand how you get a public employee pension AND social security. I thought that if you got a public employee pension you didn’t even pay into social security.

that is the way it is in California and the unions in Michigan are at least as strong as they are in California


11 posted on 02/23/2014 8:39:32 AM PST by Nifster
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To: Chode
he retired at --50-- 60!!! i think i see the problem right there...
12 posted on 02/23/2014 8:40:49 AM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -vvv- NO Pity for the LAZY - 86-44)
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To: Chode

??

2014-2005=9

69-9=60


13 posted on 02/23/2014 8:41:01 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: nascarnation
If he truly worked “decades” that is a fairly meager pension for a civil servant.

Yes it is. CNN must have spent months finding this guy.

14 posted on 02/23/2014 8:42:19 AM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Signalman
...said 69-year-old Donald Smith, who retired in 2005 after decades of work as a civilian detention officer and other general city democrat patronage jobs.

Fixed it...

Guy has been retired for 9 years which means he retired at age 60...

G.A.S. meter is busted...

15 posted on 02/23/2014 8:44:50 AM PST by Popman ("Resistance to Tyrants is Obedience to God" - Thomas Jefferson)
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To: Signalman
"You f***-ed up, you trusted us!"


16 posted on 02/23/2014 8:49:47 AM PST by Mr. K (If you like your constitution, you can keep it...Period.)
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To: nascarnation

The average city employee pension is $19k. For police, $30k, not inlcuding cola. Throw in some of the higher pensions of $100k, and the obvious groundwork has been laid for the commons there to be pissed with the cuts.


17 posted on 02/23/2014 8:50:12 AM PST by Theoria (End Socialism : No more GOP and Dem candidates)
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To: ProtectOurFreedom
Perhaps Donald should have planned better for his old age. Maybe even saved some of his income over the years. It’s not like getting old is an unexpected event.

Pension being reduced? Do you normally plan for something like that. If the stock market was to totally crash, do we plan for that? If currency becomes inflated into wheelbarrows, do we plan for that?
I'm retired and I'm in good financial condition, but I never would think that I have prepared for every contingency and that I couldn't end up like this guy.

18 posted on 02/23/2014 8:54:02 AM PST by Starstruck (If my reply offends, you probably don't understand sarcasm or criticism...or do.)
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To: Nifster

He may have earned enough quarters to collect SS if he worked at all in the private sector.

Also, I believe some state and local government employees do participate in SS.


19 posted on 02/23/2014 8:58:04 AM PST by Maine Mariner
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To: Signalman

His pension based on those numbers now is slightly over 10K. He was on a defined benefit plan and worked decades meaning more than 20 years. To me that seems like a small number and if accurate, cutting that pension a third is not realistic. Perhaps pensions at that meager amount should be excluded from the decrease. Incidently, the average pension of general employees in Detroit is about 18.5K per year.

If there is not money to pay these meager pension costs, somebody der been skimming da pot for der own benefit I think. Perhaps the politicians who made this mess up should be sued for their entire pensions citing they violated their fiduciary responsibility to their employees.


20 posted on 02/23/2014 8:59:28 AM PST by Mouton (The insurrection laws perpetuate what we have for a government now.)
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