Just FYI
Results 1 to 3 of 3
 

Thread: Just FYI

  1. #1

  2. #2
    Unregistered
    Guest
    Whoever stays in the pension fund will be paying more percent to maintain their pension. New employees will not be paying into the pension fund if they have their way

  3. #3
    Unregistered
    Guest
    This is just plain stupid, IMO. I am not an economist or finance major but I can only see where the idea of common folks like us trying to invest money by ourselves is a disaster waiting to happen. The reason we've been paying since Tricky Ricky Scott initiated the 3% pay cut we all took in 2011 was to make the pension plan solvent. Funny thing is that the employer contribution for high risk went from 22% to 13%. Yeah, that's right! 22% from the employer wasn't enough so one would think that the 3% from us made it 25% to bolster the fund but NO, these same people that want to eliminate the pension plan are same ones that created the deficit! I know it's been a while since I went to school but my readin' and rithmetic days made me believe that if 22% contribution wasn't enough how can 16% be better? I guess this is the same logic that says social workers can handle armed and crazed people better than we can.

    The problem as I see it is that the idea of investing is LONG TERM return. The investment plan is bad because it allows people to leave the system and take the funds with them which then prevent the actuaries from investing larger sums of money, which in turn yields a greater return. The idea is to keep the money in the pool as long as possible so it can build up and get more solvent. I see this as a way to hurt the current retirees when the state says they are out of money. How about the legislature stop giving themselves pensions unless they do 30 years like they expect us to. That would save a ton of money.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •