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Wisconsin state pension checks decrease
Re: Wisconsin state pension checks decrease
by VMarcHart » Sun 09 Nov 2008, 10:49:38
$this->bbcode_second_pass_quote('retiredguy', '.')..if a person works for a company for 30-40 years with the promise of a pension, that means he/she is contributing part of his/her income to that pension with the understanding that pension will support said person after he/she reaches retirement age. Pensions can be reduced, that's part of the contract. But simply to change the rules after one has dedicated a good chunk of one's life to a company, is a serious violation of a social contract.
I agree with the part where a contract must be honored, of course, if it's still a good deal for both parties. People enter into contracts daily; credit cards, loans, mortgages, marriages, etc, and default a large percentage of same contracts daily. Contracts are cheap these days. One thing though, you'd hate to pay for contracts entered in my favor before you were even born.On 9/29/08, cube wrote: "The Dow will drop to 4,000 within 2 years". The current tally is 239 bold predictions, 9 right, 96 wrong, 134 open. If you've heard here, it's probably wrong.
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VMarcHart - Heavy Crude
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Re: Wisconsin state pension checks decrease
by VMarcHart » Sun 09 Nov 2008, 10:53:34
$this->bbcode_second_pass_quote('Revi', 'I')'d say our chances of collecting social security in 10 or 12 years are about the same as a GM employee's chances of collecting their full pension.
I'm counting on zero dollar from the federal social security.On 9/29/08, cube wrote: "The Dow will drop to 4,000 within 2 years". The current tally is 239 bold predictions, 9 right, 96 wrong, 134 open. If you've heard here, it's probably wrong.
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VMarcHart - Heavy Crude
- Posts: 1644
- Joined: Mon 26 May 2008, 03:00:00
- Location: Now overpopulating California
Re: Wisconsin state pension checks decrease
by vision-master » Sun 09 Nov 2008, 10:56:46
$this->bbcode_second_pass_quote('VMarcHart', '')$this->bbcode_second_pass_quote('Revi', 'I')'d say our chances of collecting social security in 10 or 12 years are about the same as a GM employee's chances of collecting their full pension.
I'm counting on zero dollar from the federal social security.Oh, but most likely you will need it at some point in your life. Matter of fact, you have a 20% chance of becoming disabled and not able to work. Those are the hard cold FACTS!
- vision-master
When I started work for a bureaucracy back in 1975 the outlook for social security was already bleak. I never expected it to be solvent when I retired. The state system was mandatory and took six percent out of your pay before taxes. if you didn't like it you could quit and work somewhere else. They kept the same rules for thirty years and when I qualified for early retirement with a reduced payout but with healthcare fully paid for the two of us I jumped. I'll get out what I paid in plus interest in about five years if the economy dos'nt crash totaly. If Social Sercurity is there when I turn 67 I'll draw it. I paid the taxes in so why not. If it isn't there or the state fund goes broke I will do with out as will every body else my age or older. With so many in the same boat if we all get shafted the price of golf in Florida will come down considerably.
