what about the politicians get cuts in their payments. Crooks like Hairy Reid, Piglosi and so forth, instead of pensions how about a penal institution.
I think pensions should be abolished. People should be paid up front for their work or service, an amount sufficient to enable them to save for retirement.
One reason we have so much cowardice in the military and in the government in general is the government ability to threaten people with loss of their pension.
Any reduction in military retirement pay, should have the same per cent age applied to all federal and government workers. No exceptions. If it is good for the military. Then it should be good for the government.
Listen for the screams!!!!
Don
Ping.
FPOS.
I am all in favor with defined contribution plans for the Civilian Federal Workforce. Let’s see that put into action before we go after Military retirements.
Yeah,
Give those military retirees bennies to welfare scum.
Yeah, that’s the ticket if you are a mookabooker like this moosie turd we have as a leader.after those military heros weren’t gonna vote for him or his types anyway.
Active Duty ping.
good. Get more young, smart officers and NCOs into the workplace. No one will EVER hire and old guy like me again. //sarcasm.
Obama is such a turd.
What is trying to do is change the defined pension to more of a 401k type. The good news is the the younger, non-career guys get matching funds. The bad news is that 20 year folks will not have enough in their self directed accounts to fully retire.
The cost of this will eliminate having to fully fund the pensions anymore. That means a savings of billions of dollars. The average 20 year vet will retire at about forty. Let’s say they get 1/2 their pay every year thereafter...the government is on the hook for that pay every year for the next 35 years.
Under the 401k version, the government matches the employees contribution for the 20 years they are employed. It is a tax deferred contribution that grows over time. When the employee retires, the government says “I’ll pay the healthcare benefits and you can shop at the base.”
As you can see, the long term liability drops like a rock. The Vet contributes more to their own retirement. They will move them to Obamacare and give them a basic credit.
It will be painted up as a rosy opportunity. But anyone who has been on a defined pension knows that BS.