Skip to comments.Nany Pelosi: Federal Workers should not have to contribute more to their pensions.
Posted on 02/17/2012 2:45:43 PM PST by GlockThe Vote
This woman is nuts!
Of course she's nuts. Not worth the effort of watching another video.
I will go watch this one again, though...
How much (percentage of pre-tax income) do US federal workers have to pay into their pension fund?
I work for the Aussie federal government and it would be interesting to compare.
Yep, 10% of ‘em should be fired per year without replacement.
almost noone here in the States in private employment get defined pensions anymore (as newly hired employees anyway, as opposed to older employees grandfathered under old plans).
why should I pay for govt employees to have better retirement than I will ever have? Its like paying for
other peoples kid’s to go to college...
FEDERAL WORKERS PAY NOTHING
AND TO TOP IT OFF THE FEDERAL GOVERNMENT DOES NOT PAY ANYTHING INTO AN ACCOUNT EITHER, THEY JUST PAY THEM OUT OF CURRENT TAXES WHEN THEY ETIRE
it like this- if i told you to give me all your retirement money, and i spend it all, and tell you i will pay your retirement out of my paychecks when you retire
I’m not saying you should, I just want to compare with here. The previous conservative government closed off the old defined pension scheme a few years ago and all new gov workers go on a scheme similar to your 401k (as are pretty much all working Aussies). They then used their budget surpluses to build up a future fund to pay the old federal workers pensions so that future taxpayers don’t get slugged with the cost.
Even in the old defined system fed workers still had to pay at least 5% (up to a max of 10%) of their pre-tax income into their pension fund.
She is very sneaky using the word ‘more’ as if they already pay into it. The public would get a whole different perspective if it read, ‘government workers asked to contribute towards their pensions’.
Anyone who has attained the position of Speaker of the House, and then tells the American people in all seriousness that we must pass the bill so we can find out whats in it, is not someone that American voters should ever take seriously about anything.
neither should we.
thanks nancy for helping us settle that.
Might as well get it right - from the FERS retirement explanation from the gov’t.
‘FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life.’ TSP is like a 401K.
Federal workers are exempted from paying the FICA (Social Security and Medicare( taxes that other employees and employers pay.
That's absolutely true! And they are also not going to provide healthcare benefits to new hires following their retirement......
federal workers have a TSP plan to which they contribute (like a 401K)
In fact having bumped up to the debt ceiling Timmy Geithner uses part of the TSP fund to run the government, I believe, an end run around getting Congress to raise the debt ceiling
And this is the second time this year the government “borrowed” the federal pension funds to run the govt
Of course they “promise” to pay it back
we pay social security taxes
so does the military
only Congress is exempt
Oh, dear, that’s no good at all. I put 13% of my pay into the TSP, with the expectation that I will get it all back after I retire!
what is the number....like 60% of American homes have someone getting some govt money?...
democracy can not continue when people know they can vote themselves in more loot...
so that leaves the rest of the workers paying for all..
.the return of Robin Hood is upon us....
I thought you guys had an independent pension system.
Geithner et al are raiding the “G” fund but they “promise” to pay it back with interest that would have been earned
WE all know this amdinistartyioon is fast with a promise....just pray they are gone in 2013 or I predict we are screwed as bad as the social security “trust fund”
Notice that many FR posters consider it an “entitlement” attitude to expect to get back money you saved and invested, whether voluntarily or as with social security, INVOLUNTARILY
Thanks! I must have been thinking of pre-1984.
“so that leaves the rest of the workers paying for all..”
Thank you for a little refreshing honesty on the topic, and getting to the crux of the matter.
ALL government benefit payments must be paid by someone in private industry who cannot afford the same benefits (or even a fraction thereof), because of the taxes they pay for government benefits.
This is what the TEA party, the Conservatives in the GOP and everyone else SHOULD be doing - educating folks.
Educating the folks that presently get benefits, so that they understand that just because government promised it to them, doesn’t mean they get to take other peoples money.
Federal, State, and Municipal workers who retire on defined benefit pensions are in fact multi-millionaires at todays interest rates. Millionaires.
Every retired fireman, policeman, teacher, administrator, military, federal employee is a millionaire - because it would take millions of dollars for a private sector employee to achieve the same level of benefit. The government employees at all levels get first dibs on every private employees paycheck - even before the employee saves a penny for their own retirement.
This is the travesty in America today. The real heroes in America are private taxpaying citizens - being ripped off by government employees at all levels for pay, benefits, and retirements that they do not have access to themselves.
You obviously understand it. But most folks play dumb, or insist they are “owed” payments - and will vote for those payments whether they are Democrat or Republican.
Neither party wants to deal with this.
I had not been thinking about the Military or their benefits- which are way different than a civil service government jobs.
The days of “20 and out” should be long gone. If you can ‘retire’ from the military at age 38 and collect pay for the rest of your life we need to change that.
Not for EXISTING people who signed up and served under that promised contract.