Comments on: Unfunded retirements

By: Ken Steers

Ken Steers — Tue, 12 Jun 2012 04:02:56 +0000

Mr Riordan,

I’m well aware of the various counties and cities around California who are in bankrupt. Many are managed by well intentioned people like John Garon or pseudonym Dink Lane who have no interest in future responsibility and passing on debt to outgoing generations. The problem is the bell is tolling and the debt man is at the door. All that public sector union money lined the pockets of short sighted politicians. It was inevitable. The same thing happened to the steel industry in the 70′s, the textile industry in the ’80′s the auto industry two years ago and the government unions today. So to John Garon, Greenwood Bill, Dink Lane and the other hard core progressives out there. Don’t blame me for what’s happening. Blame you selves because I had nothing to do with these realities. I’m 50, fat and have a stressful job. I don’t worry about my retirement too much.

By: jim Riordan

jim Riordan — Mon, 11 Jun 2012 23:43:57 +0000

70% of any salary over 60,000 is more than I want to see paid to any civil servant other than police and fire who put their lives on the line for us every day. Our armed forces put their lives on the line every day and they deserve the same or more if in combat. As another self employed person who has not been sucking at the public teat ever in my life, I say, if you want more . . work more!. Retire and go to work for home depot . . . like many self employed people have to do. Every single civil service job except law enforcement and fire should be up for bid . . .if two people have the same degree . . Lowest bidder gets the job. Tenure ?? Give me a break. Between government salaries and giveaways this economy is not sustainable . Period. And by the way Mr. Steers, Solano County has been in Bankruptcy for nearly two years or more with plenty more counties to follow.

By: Ken Steers

Ken Steers — Mon, 11 Jun 2012 22:51:18 +0000

I am for the Trillion dollar reduction over ten years of the pentagon budget and wrote just that a few years back John Garon you pompous ass.
You are ill informed sir.
Ask a friendly fireman or a F.A.A. person if they are fully vested retired at 50. You won’t like the answer.
By the way I don’t begrudge them. it’s the politicians who ignored mathematics who are to blame.

By: John

John — Mon, 11 Jun 2012 22:29:40 +0000

Facts never, ever get in the way of Ken Steers’s comments, e.g. “I know of lots of Feds and State employees who retire at 50 with 90% pay”. I can’t speak for California or other states, but I doubt seriously if such retirement plans exist. At the Federal level, the most a person can get is 2% of the average of his/her last 5 years, with a maximum of 35 years allowable. In simple math, a Fed can get a maximum of 70% of whatever his/her 5-year average pay happens to be.

Folks on the Right like Ken Steers, love to attack teachers, firemen, and other small fry that represent pennies on the tax dollar. Why not focus on the military retirement system, for a change–that’s where the big retirement bucks are? Unlike teachers, firemen and other civil servants who contribute to their retirement fund, military personnel contribute nothing. The Pentagon’s unfunded pension liability was pushing the $$$trillion mark, last time I looked three years ago. Let’s not even mention the VA’s liability due to the coming wave of severely disabled vets.

So, Ken Steers, if you’re as concerned as you claim to be about ‘unfunded pensions’, spend less time on the penny-ante stuff and focus on where the REAL liability is. I know this will be difficult for you: the Pentagon is a right wing sacred cow, but just give it a try–you might learn something.

By: Ken Steers

Ken Steers — Mon, 11 Jun 2012 21:19:04 +0000

Is Dink Lane real or a pudendum? FYI all those jobs listed are public sector unfunded retirements.

By: Dink Lane

Dink Lane — Mon, 11 Jun 2012 18:23:49 +0000

Here we talk about retirement of “Public Employees.”….. But go on the CA.gov website and look at the State’s budget…. Now look at the Retirement section for Legislators, Judges, Upper Management Public (CHP, CalFire, Finance) Officials …… They have CONTRACTS…and they didn’t pay as much (sometimes ZERO) into their retirement funds…. and look at the amount….Last time I looked, Judicial ‘Retirement’ budget was MORE than the Judicial operating budget…. Kick the $100,000 + full benefits for LIFE…

By: JackyeDavid

JackyeDavid — Mon, 11 Jun 2012 12:30:49 +0000

I’m so tired of politicians and their unwillingness to accept responsibility for their actions.

These people went through negotations with information provided to them for the costs of the “proposed” contracts. We all know the saying “Rob Peter to Pay Paul” and that is exactly what they did, rather than fund the costs, they spent the money elsewhere.

Now that “Paul” has come a callin the politicians won’t assume responsibility so who can we blame a scapegoat, –the employees??

I don’t go into debt and then ignore the costs, do you?? I sure have no one else to blame, it was my decision.

By: Ken Steers

Ken Steers — Sat, 09 Jun 2012 00:03:33 +0000

I know of many Fire fighter, Police and Federal employees who are retired at 50 with a least 90%+ pay for life.
Retired too, you say you know no one. You might want to get out more at meet some people.

By: Retired too.....

Retired too..... — Fri, 08 Jun 2012 22:40:10 +0000

In the 21st century I know of no one who has retired at 50…..most people are lucky to retire in their 60′s….get a clue Ken.

By: Judy Dowd

Judy Dowd — Fri, 08 Jun 2012 06:43:28 +0000

I can see it is just to complex for Ken to understand.

By: Greenwood Bill

Greenwood Bill — Fri, 08 Jun 2012 01:02:54 +0000

To bad you really have no clue how investments work. How about just some basic math skills then?