I’m not sure what the homestead exemption has to do with retirement, but social security isn’t going away. We already have private accounts with 401K’s and IRA’s, the problem is a lot of people don’t contribute to theirs and thinks their retirement is someone else’s responsibility.
You’ve got to look at SS as the icing on top, or like found money. The people that buy Starbucks are relying on it as retirement and it cannot be that anymore.
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The government pensions will get funded via money print. Sure there is some risk for the small towns but the reality is is you vote democrat they will make sure and bail those out as well.
Exactly. Those dollars will buy less stuff as a result.
It seems like the whole corporate/government 9-5 job paradigm is a completely washed up scam now. A writer I know put it as a paper sailboat in a stormy sea. The slightest whim of the market, based on rapidly evolving technology, could wipe out virtually any employment situation.
People had better get invested while the investing is still good. Otherwise they’ll be in line begging for crumbs.
Or as just another tax if you’re still working.
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Your comment in another post about I should be thanking tax payers for my pension, made me curious and I looked it up.
Based on a 20-year average ending June 30, 2023, for every dollar CalPERS pays in pensions:
- 56 cents comes from investment earnings
- 33 cents from employer contributions
- 11 cents from employee contributions
Who Pays for CalPERS Pensions? - CalPERS
Did you thank the taxpayers for that 1/3rd?
No because I was also a tax payer and am still a tax payer.
That’s the taxpayers.
No shit Calvin
Its more that that…
Are cap gains and dividends tax exempt since government is the “investor”? Who makes that up?
Lol …you said “employer”, I wasn’t sure if you knew where that money came from.
The employer. 
Don’t think I’m that dumb although I only have a GED.
It is a benefit just like any other.
She worked for it, it wasn’t a handout by the taxpayers.
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I’m going to piss you off even more. Calpers reimburses me the cost of my Medicare part B and gives me a cost of living raise every year. (COLA) YAY ME
That 56% is misleading. That 56% is based on projections and is why pensions are so underfunded
So if you impute a 7% return, the payout will be larger than if you earn only a 5% return which means that after 28 years, you’ll have the pension only half funded
Good for you, anyone that retires from Corrections deserves every penny and then some!
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Do you thank your employer for paying for your retirement?
I was the owner not an employee. I thanked my employees every payday for their work and they thanked me for the pay.