Stanford's http://www.pensiontracker.org/index.php
found in this article:
O.C. Watchdog: Unfunded pension debt approaching $1 trillion?
May 26, 2016
https://www.ocregister.com/2016/05/25/oc-watchdog-unfunded-pension-debt-approaching-1-trillion/
Posted on 04/16/2018 4:30:52 PM PDT by Libloather
A public university president in Oregon gives new meaning to the idea of a pensioner.
Joseph Robertson, an eye surgeon who retired as head of the Oregon Health & Science University last fall, receives the state’s largest government pension.
It is $76,111.
Per month.
That is considerably more than the average Oregon family earns in a year.
(Excerpt) Read more at mobile.nytimes.com ...
Makes my $950 a month retirement look like squat!
Well it’s obvious the state isn’t taxing everyone enough....
duh....
The university he ran may have had thousands of employees and a billion dollar budget. Equivalent to a CEO of a mid-cap private company. A 900K pension may make sense, equivalent to a $20 million lump sum. The theory is that he could have been CEO of a biotech company.
.
Moonbeam did declare a few month back that his budget has a surplus, but in reality it is probably hundreds of millions in the red due to cartoonish projections.
.
Tax Pensions, that is simple. Over $5K a month you begin taking 10%. At $7K 12%, over $10K take 30%. Essentially tax the pensions so no matter what it is, $7K per month is the max. Drawn at 70 years of age of course.
I have a relative with 35 years in the Cali teachers system and I was flabbergasted at what she could take home if she retired. Ironically she has zero zero savings and due to her poor economic decisions she is working at 71, thus saving the state a bundle.
In California, the taxpayers will vote to raise their own taxes every chance they get.
One of the many reasons we fled in 2015.
The libs on Yahoo were claiming $6.1 billion in surplus.
But then, they watch the liberal media, so.....
Dems rely on vote buying, that’s why.
Well, he only collects that money for the months in which he’s alive.
Defined benefit plans in the private sector(DBs) are typically insured thru the PBGC and bankruptcy does not protect the employer from renegging on its pension obligations. Typically those pensioners who are affected are considered those who are "highly compensated", I think the figure starts around $49,000 per year in pension.......
My company did the very same thing two years ago, declared bankruptcy and attempted to divest itself from its pension obligations. Fortunately it didn't work..........
Most private pension programs in the US have converted from defined benefit (traditional generous lifetime payout) to cash value (a fraction of original defined benefit plan).
Public pension crisis will be our undoing.
“but the pensioneer has contributed to the pension and is thus protected by ERISA laws.”
If ERISA is a law passed by a legislature, it can be modified or cancelled by a legislature.
Thanks.
Consider a restrictive CAP of all public pensions (state by state) of say 300k/year.
The more lowly paid workers would still get their pensions, and the major league gold diggers would be limited.
Just checking did you get the problem worked out at your Home?
“Tax Pensions, that is simple.”
No, tax GOVERNMENT PENSIONS.
Stanford's http://www.pensiontracker.org/index.php
found in this article:
O.C. Watchdog: Unfunded pension debt approaching $1 trillion?
May 26, 2016
https://www.ocregister.com/2016/05/25/oc-watchdog-unfunded-pension-debt-approaching-1-trillion/
If i’m not mistaken, didn’t the city of Vallejo Ca declare bandruptcy.
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