Pension figures posted normally include all benefits, including insurance value. Enough years into the system can pay very high benefits for public pension recipients. Municipal and local gov. pensions are the worst and are fueled by local and state politicians giving away the farm to get votes. Many of these annuitants were given a last minute opportunity to jack up their retirement via overtime or short lived promotion as they neared retirement. Outrageous public pension have already taken down a few municipalities while many others have begun to attack the giveaway.
I'm a retired federal employee with 33 yrs. service and I draw a gross federal pension of $42K. I guess my vote was valued much less. The federal system a few years back changed the retirement program to raise the retirement age and to require the employee to have more skin in the game.
Natural forces of supply and demand are the best regulators on earth.
Let's look around at our 'hoods, at our neighbors, & towns. What is your gut feeling about your little corner of the Earth? Getting noticeably better? Worser (if you live in Detroit, you can take a pass on this one.)? Is the economy an airplane on a conveyor belt (for Guy Yocum) and soring, or is it flapping its wings and soaring?
<< <i>Let's look around at our 'hoods, at our neighbors, & towns. What is your gut feeling about your little corner of the Earth? Getting noticeably better? Worser (if you live in Detroit, you can take a pass on this one.)? Is the economy an airplane on a conveyor belt (for Guy Yocum) and soring, or is it flapping its wings and soaring?
Inquiring minds want to know. >>
My little corner of The Matrix is business as usual.
Natural forces of supply and demand are the best regulators on earth.
Sports card trading government shills? When you post condescending insults, it tells me your defeated. You pulled the same act with Phil when he was still here.
I'm not going to get into personal attacks with you on the internet. Go ahead and take it to the streets with your web site link and Tony Valera posters.
DerryB collecting a 42K pension for 33 years of service? Doesn't exactly sound like the fleecing of american tax payers to me. Is he a government shill too, or no...because you make more than him?
Derry, Thank you for your service. What you are drawing seems in the range of being fair. My sister taught disabled third and fourth graders inSan Jose Unified for 30+ years and draws $36,000 yr.
I guess I'm naive..why are public pensions so significantly higher than Social Security? How did it get to be this way? I've been paying into SS since high school-and that's a loooong time-- and my benefits would be around 20k.
Oh, downtown- you're just one of those. How is your buddy gecko? Still alive? Pfffft.
Public employee pensions are negotiated, by their respective unions, with politicians who want votes. Public employee union officials are no less corrupt and self serving than are private sector union officials.
Public employee unions should be outlawed. Public employees are protected by more than adequate local, state and federal laws. Public employees provide a service that is not subject to competition and as such do not have the incentive to perform or produce efficiently. Ridding an agency of underperforming public employees is near impossible and often results in shuffling them on to another supervisor or even worse, promoting them.
Negotiation of public employee benefits needs to be removed from the hands of elected officials and should put before the voters/customers.
Natural forces of supply and demand are the best regulators on earth.
<< <i>Streeter, I call BS on that $998k pension for a worker bee firefighter. Maybe a battalion chief can pull down money like that. You either don't have all the info or I think you're misinterpreting the info. Show me with numbers how that figure is obtained. No fireman, not even in California is making hundreds of dollars an hour.
Edited to add. Forget the website, better yet....go right to the source. Go to city hall and obtain the salary of the highest paid hourly firefighter (it's all public record) then apply the formula you have. Is it best 3 years or last 3 years? Average out the 90%. I think you will find that nobody is flirting with a million dollar pension. >>
+1
There is no way any fireman or civil service employee is making even CLOSE to that kind of money on an annual pension payout. More bogus assertions by those with an agenda to feed anti-union rhetoric. >>
He's #1 lads. Those #'s you see in TRANSPARENTCALIFORNIA.COM are correct to the cent. You can't even believe them , can you? >>
You claimed that this gentlemen was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the figure you cited on an annual basis. And these examples were the HIGHEST.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>Mr. Bailey, Those are YEARLY payouts. Mind boggling that a firefighter on an hourly basis can manipulate the system to $998,500 a year. These are hourly employees making that pension money.
Why am I sensing that the nay sayers are sports trading card collectors with that mentality and who haven't bothered to use a search engine and plug in TONY VARELA PENSION or see who the author is of TRANSPARENTCALIFORNIA.
>>
No, what you're sensing is those who are refuting your erroneous claims and assertions.
In this case, I would normally say don't believe everything you read on the internet, but in this case, the internet is not the one misstating the facts.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Grote, Those numbers are published by the State of California.
I know five people very well on that list well enough to privately discuss their numbers. 1. Police chief, retired before the 1999 law went into effect. $88,000 2. Watch commander hired by him and retired 2005, $182,000 3. Fraternity brother and roommate, still working, $480,000 4. Sister, retired 2005 on salary, $36,000 5. Brother in-law, hourly, about $180,000.
Those big numbers you see on the people it's because they are able to game the retirement system and that is why you see those numbers. I can tell you, I was flabbergasted at first.
<< <i>Grote, I challenge you sir to find one dollar amount on that site that is incorrect. >>
The site is correct. It's your comprehension of the facts therein that is lacking. Unless you are being intentionally obtuse, that is.
You claimed that this gentlemen, Mr. Varela, was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the 1MM figure you cited on an annual basis. And these examples were the HIGHEST.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I apologize. The red "see note" was not on my phone. I went to my computa to see it.
Please look the the San Diego people starting with Rosario at $783,000. That is yearly.
You can't make it up.
BTW, if I calculate even close, varela made $150,000+ from 08-12. Add $750,000 to his payout. All that by contributing 2-5% per year on his salary for retirement. And when he start as a rookie in 1978, he prolly brought in $25-30/yr. Not bad. If it was me I would be keeping my mouth shut.
Locally, IBM announced layoffs but they won't say how many are being let go because it might trigger a repayment of the funds that were given to them when they committed to employ more than the minimum that they agreed to when they got the $32.1 (corrected number) million in incentives for coming here, plus a $3 million building.
My industry is on the defensive with the drop in oil prices, no indication yet of how many or which projects will be back-burnered or cancelled. Life goes on, and nothing ever comes to a complete halt. More maintenance projects and fewer capital spending projects.
There's a good indication that drilling will taper off quickly in the Texas shale deposits and in Baaken. Keystone will be delayed another 2 years, but there will be less push for it as the economy slows and demand drops. I expect that green energy will suffer even more and will require even more government support unless someone wises up.
We have a new grad who graduated with a 4.0 and honors who hasn't yet found employment. I expect that it will take awhile, but sometimes the unexpected does happen. I don't expect the economy to be all that promising for new grads. We need our industrial base back and expanding. These government employee union pensions are emblematic of one of the main problems. The thread isn't derailed because that has been pointed out.
Just my opinion.
Q: Are You Printing Money? Bernanke: Not Literally
I agree wholeheartedly with this sentiment, but it will never happen as long as the cost of labor is so ridiculously cheap overseas.
Unions certainly have their share of issues, but the middle class for which many lament the loss of in recent years, was created in large part to union organization and ensuring a fair and decent living wage for factory workers and others who otherwise would not have been able to receive such benefits. Look up the Triangle Shirtwaist Fire for an example of how factory work operated without those benefits.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>Grote, I challenge you sir to find one dollar amount on that site that is incorrect. >>
The site is correct. It's your comprehension of the facts therein that is lacking. Unless you are being intentionally obtuse, that is.
You claimed that this gentlemen, Mr. Varela, was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the 1MM figure you cited on an annual basis. And these examples were the HIGHEST. >>
Click in a few pages and this "ONE TIME LUMP SUM payment" drops to $300k for Fire Captains in LA with 30 years seniority. Let's see: $100k/year for life OR a $300k ONE TIME LUMP SUM payment? Yeah, I'll take the buyout.
Comments
<< <i>
<< <i>The best cure for high pensions is high pensions.
Indeed. Look what's happening in your state. Excessive, by definition, is unsustainable. >>
The chickens are coming home to roost, albeit, too slowly.
I'm a retired federal employee with 33 yrs. service and I draw a gross federal pension of $42K. I guess my vote was valued much less. The federal system a few years back changed the retirement program to raise the retirement age and to require the employee to have more skin in the game.
Natural forces of supply and demand are the best regulators on earth.
Inquiring minds want to know.
<< <i>Let's look around at our 'hoods, at our neighbors, & towns. What is your gut feeling about your little corner of the Earth? Getting noticeably better? Worser (if you live in Detroit, you can take a pass on this one.)? Is the economy an airplane on a conveyor belt (for Guy Yocum) and soring, or is it flapping its wings and soaring?
Inquiring minds want to know. >>
My little corner of The Matrix is business as usual.
Natural forces of supply and demand are the best regulators on earth.
You pulled the same act with Phil when he was still here.
I'm not going to get into personal attacks with you on the internet. Go ahead and take it to the streets with your web site link and Tony Valera posters.
DerryB collecting a 42K pension for 33 years of service? Doesn't exactly sound like the fleecing of american tax payers to me. Is he a government shill too, or no...because you make more than him?
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
Thank you for your service. What you are drawing seems in the range of being fair. My sister taught disabled third and fourth graders inSan Jose Unified for 30+ years and draws $36,000 yr.
I guess I'm naive..why are public pensions so significantly higher than Social Security? How did it get to be this way? I've been paying into SS since high school-and that's a loooong time-- and my benefits would be around 20k.
Oh, downtown- you're just one of those. How is your buddy gecko? Still alive? Pfffft.
Public employee unions should be outlawed. Public employees are protected by more than adequate local, state and federal laws. Public employees provide a service that is not subject to competition and as such do not have the incentive to perform or produce efficiently. Ridding an agency of underperforming public employees is near impossible and often results in shuffling them on to another supervisor or even worse, promoting them.
Negotiation of public employee benefits needs to be removed from the hands of elected officials and should put before the voters/customers.
Natural forces of supply and demand are the best regulators on earth.
<< <i>
<< <i>
<< <i>Streeter, I call BS on that $998k pension for a worker bee firefighter. Maybe a battalion chief can pull down money like that.
You either don't have all the info or I think you're misinterpreting the info. Show me with numbers how that figure is obtained.
No fireman, not even in California is making hundreds of dollars an hour.
Edited to add. Forget the website, better yet....go right to the source. Go to city hall and obtain the salary of the highest paid hourly firefighter (it's all public record) then apply the formula you have. Is it best 3 years or last 3 years? Average out the 90%. I think you will find that nobody is flirting with a million dollar pension. >>
+1
There is no way any fireman or civil service employee is making even CLOSE to that kind of money on an annual pension payout. More bogus assertions by those with an agenda to feed anti-union rhetoric. >>
I hope you lads can back up your claim that I am anti union. Let's do a little checking, OK?
Google Tony Varela, pension
http://www.google.com/search?hl=en&redir_esc=&client=ms-android-boost-us&source=android-launcher-search&v=141400000&qsubts=1422784984018&q=tony+varela,+pension
He's #1 lads. Those #'s you see in TRANSPARENTCALIFORNIA.COM are correct to the cent. You can't even believe them , can you? >>
You claimed that this gentlemen was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the figure you cited on an annual basis. And these examples were the HIGHEST.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>Mr. Bailey,
Those are YEARLY payouts. Mind boggling that a firefighter on an hourly basis can manipulate the system to $998,500 a year. These are hourly employees making that pension money.
Why am I sensing that the nay sayers are sports trading card collectors with that mentality and who haven't bothered to use a search engine and plug in TONY VARELA PENSION or see who the author is of TRANSPARENTCALIFORNIA.
No, what you're sensing is those who are refuting your erroneous claims and assertions.
In this case, I would normally say don't believe everything you read on the internet, but in this case, the internet is not the one misstating the facts.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Those numbers are published by the State of California.
I know five people very well on that list well enough to privately discuss their numbers.
1. Police chief, retired before the 1999 law went into effect. $88,000
2. Watch commander hired by him and retired 2005, $182,000
3. Fraternity brother and roommate, still working, $480,000
4. Sister, retired 2005 on salary, $36,000
5. Brother in-law, hourly, about $180,000.
Those big numbers you see on the people it's because they are able to game the retirement system and that is why you see those numbers. I can tell you, I was flabbergasted at first.
You can't make this stuff up.
I challenge you sir to find one dollar amount on that site that is incorrect.
<< <i>Grote,
I challenge you sir to find one dollar amount on that site that is incorrect. >>
The site is correct. It's your comprehension of the facts therein that is lacking. Unless you are being intentionally obtuse, that is.
You claimed that this gentlemen, Mr. Varela, was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the 1MM figure you cited on an annual basis. And these examples were the HIGHEST.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I apologize. The red "see note" was not on my phone. I went to my computa to see it.
Please look the the San Diego people starting with Rosario at $783,000. That is yearly.
You can't make it up.
BTW, if I calculate even close, varela made $150,000+ from 08-12. Add $750,000 to his payout. All that by contributing 2-5% per year on his salary for retirement. And when he start as a rookie in 1978, he prolly brought in $25-30/yr. Not bad. If it was me I would be keeping my mouth shut.
My industry is on the defensive with the drop in oil prices, no indication yet of how many or which projects will be back-burnered or cancelled. Life goes on, and nothing ever comes to a complete halt. More maintenance projects and fewer capital spending projects.
There's a good indication that drilling will taper off quickly in the Texas shale deposits and in Baaken. Keystone will be delayed another 2 years, but there will be less push for it as the economy slows and demand drops. I expect that green energy will suffer even more and will require even more government support unless someone wises up.
We have a new grad who graduated with a 4.0 and honors who hasn't yet found employment. I expect that it will take awhile, but sometimes the unexpected does happen. I don't expect the economy to be all that promising for new grads. We need our industrial base back and expanding. These government employee union pensions are emblematic of one of the main problems. The thread isn't derailed because that has been pointed out.
Just my opinion.
I knew it would happen.
I agree wholeheartedly with this sentiment, but it will never happen as long as the cost of labor is so ridiculously cheap overseas.
Unions certainly have their share of issues, but the middle class for which many lament the loss of in recent years, was created in large part to union organization and ensuring a fair and decent living wage for factory workers and others who otherwise would not have been able to receive such benefits. Look up the Triangle Shirtwaist Fire for an example of how factory work operated without those benefits.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>This thread got derailed real fast, it started out on such a good premise... >>
You're right. I apologize to the OP for my part in this.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
<< <i>
<< <i>Grote,
I challenge you sir to find one dollar amount on that site that is incorrect. >>
The site is correct. It's your comprehension of the facts therein that is lacking. Unless you are being intentionally obtuse, that is.
You claimed that this gentlemen, Mr. Varela, was receiving a YEARLY pension payout of nearly a million dollars a year. Did you even read the very article you cited? This 998K amount is a ONE TIME LUMP SUM payment (before taxes, of course). A tidy sum, to be sure, but if he lives another 25 years (a conservative estimate), that equates to about 20K a year after taxes. His actual annual pension is far less, and not even close to the 1MM figure you cited on an annual basis. And these examples were the HIGHEST. >>
Click in a few pages and this "ONE TIME LUMP SUM payment" drops to $300k for Fire Captains in LA with 30 years seniority. Let's see: $100k/year for life OR a $300k ONE TIME LUMP SUM payment? Yeah, I'll take the buyout.
<< <i>
<< <i>This thread got derailed real fast, it started out on such a good premise... >>
You're right. I apologize to the OP for my part in this. >>
I apologize also but please remember derailment is a special talent.