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To: kearnyirish2
It isn't just the early retirement ages of police and firefighters. It is also the payout amounts and personnel policies that allow spiking of pension payouts by working overtime the last few years of employment. Add that to unrealistic expectations of returns on pension fund investment and you have a recipe for disaster.

The federal situation is slightly better. Payouts are much lower and the retirement ages are higher. Then you come back to the funding of the pensions. On the books federal pensions look well funded, but that is only when you ignore the massive deficits and debt being amassed by the federal government.

30 posted on 04/24/2016 6:26:49 AM PDT by USNBandit (Sarcasm engaged at all times)
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To: USNBandit

I understand the issue with loading the last years with overtime to swell the pensions; thankfully that practice has been exposed and will go the way of the dodo. Here in NJ they are also doing away with policies that let gubmint workers amass unused vacation/sick time; people were retiring with six-figure payouts ON TOP OF their pensions (while the municipality also had to pay for their replacement).

These scams that built up momentum during the good times are falling by the wayside as this country comes to grips with the fact that many people will never earn $15 per hour throughout their lives, and will never own homes or produce the successive generations that are needed to keep the scams going. There is literally nothing left to squeeze from an increasing number of Americans.


32 posted on 04/24/2016 6:32:34 AM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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