Do you thank your employer for your salary? Or thank your renters? Is a pension a gift from taxpayers or compensation for work?
Neither.
What produces the money that funds public pensions?
Investments
What produces the money that is invested in the investments?
The benefits package that is offered to employees upon their hiring.
The money being invested comes from both employees and employers, like most retirement plans.
I donât, but there are a lot of lefties that think we should be thanking the government for giving us OUR money back with social security.
I saved and invested during my career expecting that by the time I was old enough for social security the government would have determined that it was not sustainable in the long run and that there would likely be means testing. I was wrong. So, our s/s is a small bonus.
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Its a mix of employee and employer contributions. Then hopefully the investment grows. I think the word youre looking for is taxes? Taxes also paid my salary when employed by FAA.
I remember a lot of coworkers griping that the FAA didnt appreciate us enough, my response was they appreciate us every two weeks. While im very appreciative for my career and was honored to serve the people for 33 years, i didnt actually say thank you to them every two weeks.
Thatâs how I see it, when I started contributing to my 401k in 1989 I assumed there would be no social security when I retired. I checked a few months ago and at age 62 my wife and I combined will get around $4k a month.
I think showing up to work every day is technically saying âthank youâ.
And its hard to track every taxpayer down every payday.
I am just trying to point out to some of the posters that government employee pensions arenât a financial burden on the taxpayers.
They are a benefit that is promised upon hiring and earned over several decades.
Its just the right wing fantasy that government employment is a handout. WIC and welfare is a handout, pension is just compensation.
No its not a handout. Civil service employment performs very important functions although that is becoming more and more convoluted as time goes on but donât try to tell me its self sustaining. It must exist to some extent off other peoples productivity in the private sector.
Self sustaining? How is foresty service self sustaining, as in park fees would cover their salary? Or police, how does a policemans salary becomes self sustaining? What service are they performing that generates $$$?
Ironically the FAA is self sustaining if the politicians would leave the FAA trust fund alone. Every ticket sold has a tax that covers the FAA and then some.
I havenât seen anyone claim pension recipients donât deserve it. Itâs more like itâs a shitty bet to have no other form of savings/investments handy, as time has reliably shown that both governments and corporations leave pensioners behind on inflation.
30-40 more years of that effect could really put someone in dire straights.
Billinin seems to infer a government pension is a handout, hes asked a few times who funds it.
I would recommend nobody relies on a single source to fund retirement, whether its SS or pension or stock market. But my pension is pretty baller. If i live to 89 i will have drawn a pension longer than a paycheck and that will be worth about 3m dollars.
You âinferâ a lot of things. I just donât care for the fact that the vast majority of gov pensions are a result of public union bartering where the taxpayer has no seat at the table.