LumberJocks

California Can fix their runaway Pension Plans

  • Advertise with us

« back to Coffee Lounge forum

Forum topic by Joe Lyddon posted 06-02-2012 10:28 PM 1122 views 0 times favorited 26 replies Add to Favorites Watch
View Joe Lyddon's profile

Joe Lyddon

7948 posts in 2804 days


06-02-2012 10:28 PM

Topic tags/keywords: california runaway pension problems political

... if they refer to…
How the city of San Jose did it!

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"


26 replies so far

View Sawkerf's profile

Sawkerf

1730 posts in 1820 days


#1 posted 06-03-2012 12:06 AM

Well, San Jose hasn’t done anything yet although the polls seem to show that Measure B will pass. Even if it passes, however, the unions will attempt to stop implementation while it goes thru the court. Don’t ask me why, but they apparently think they have a case to prevent the city from changing the contract.

The opponents to Measure B are also raising the issue of city senior executives compensation. I got a campaign flyer in today’s mail that listed several job titles and their total (salary + benefits) compensation. They won’t be affected by Measure B but it’s certainly arguable that their compensation could stand some scrutiny as well.

Next Tuesday will be interesting.

-- Adversity doesn't build character...................it reveals it.

View Joe Lyddon's profile

Joe Lyddon

7948 posts in 2804 days


#2 posted 06-03-2012 12:18 AM

Sawkerf…

... they apparently think they have a case to prevent the city from changing the contract.

There is another action the City could take as a Last Resort… (IMHO… guess)

Declare Bankruptcy, all contracts… GONE… start over without the Unions!

I wonder how they would like that?

LOL

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

View patron's profile

patron

13182 posts in 2093 days


#3 posted 06-03-2012 01:37 AM

the problems that abound in the world today
were created by greedy politicians and corporations

as we see they all want to ‘talk’ more about how to solve these problems
they themselves crated

their solutions all include getting back to the way things were
when they had free reign and made lots of money

nobody is talking about how to learn a new way
of sensible and equal sharing
there was nothing wrong with the age old 5% 0r 10% profit
it got out of hand when these guys went to 2000% profit over the years
and still growing

and unfortunately everyone seems to want to gorge at the trough
before anything new can happen

‘let me get my fill , then we can change things’

-- david - only thru kindness can this world be whole . If we don't succeed we run the risk of failure. Dan Quayle

View Howie's profile

Howie

2656 posts in 1675 days


#4 posted 06-03-2012 02:23 AM

I wish people would get off the unions ass. People always want to blame the unions.
How about the dips in Washington that work less than 6 months out of the year that end up with their own retirement(not social security) health care plans that pay everything(not medicare) and can’t even agree among themselves about anything to help the American people.
Yeah, I get a pension from the Union. I also have to pay for my wifes health insurance that’s $230.00 a month and doesn’t pay S$%#! My own insurance thru the union would be over $18,000 per year if I wasn’t on Medicare.I pay my own life insurance too.
How about the Post Office? The Railroads? The fat CEO’s of a company that go to work and automatically get 26 years retirement credit(American Electric Power CEO Lynn Draper in 1990)
How about the people that talked the Steel Workers into concessions in the Upper Ohio Valley and then a year later after raiding their pension funds shut down the companies and left them with nothing.(Romney made millions doing this very thing)
If it wasn’t for the unions in this country YOU would be working for $2.00 a day. You wouldn’t have a safe workplace. You wouldn’t have building codes that protect you. I could go on and on.
It’s easy to blame the Unions for the ills of this country but you need to do a lot more homework . Not every problem in this country is traceable to the “Unions”. That is akin to me saying that all the problems are being caused by Republicans.

-- Life is good.

View Sawkerf's profile

Sawkerf

1730 posts in 1820 days


#5 posted 06-03-2012 02:52 AM

Howie -
Valid points, but how do they apply to San Jose’s situation?

-- Adversity doesn't build character...................it reveals it.

View Howie's profile

Howie

2656 posts in 1675 days


#6 posted 06-03-2012 10:42 AM

I just get tired of hearing unions slammed at every point like they are always the problem and should be done away with.

Declare Bankruptcy, all contracts… GONE… start over without the Unions!
Hire a bunch of illeagles for $5.00 p/hr see what you end up with.

-- Life is good.

View BobM001's profile

BobM001

388 posts in 1082 days


#7 posted 06-03-2012 03:07 PM

This NY Times article titled FDR Warned Us tells all.

-- OK, who's the wise guy that shrunk the plywood?

View Joe Lyddon's profile

Joe Lyddon

7948 posts in 2804 days


#8 posted 06-03-2012 04:13 PM

Howie… did you get your pension from a Government Job… or from the Private working sector?

Government & Unions do not mix… when corruption trickles into Governmental Unions it gets really bad… as seen in San Jose, Los Angeles, and all over California.

Private sector pensions tend to be more Down to Earth and are NOT screwing the Company in the process…
IBM had a very good pension plan in yesteryears… a long time friend who worked for IBM and finally retired and was getting a reasonable pension, had his pension STOPPED by IBM saying, in so many words, “These pensions are no longer favorable for the Company”...

Union pensions in California are NOT reasonable… they are flat out OBSCENE… driving the State into the hole… there is NO INCOME to support them! Something has got to give… We cannot raise taxes… not enough people working to Pay Them! There is ONLY ONE way to solve the problem…

California governmental Pension Reform… knocking them back down to Reality!

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

View Howie's profile

Howie

2656 posts in 1675 days


#9 posted 06-03-2012 06:10 PM

I’d say the people that let these things happen in California(politicians) also need their pensions looked at. I’ll bet they are OBSCENE also. Are the politicians willing to give up their pensions too? Just like congress “ain’t gonna happen”. One of the biggest lies ever told is “I’m from the government and I’m here to help you”.

My pensions come from the union and a private sector. The only thing obscene about them is they are rather small for 32 years service.

-- Life is good.

View Joe Lyddon's profile

Joe Lyddon

7948 posts in 2804 days


#10 posted 06-03-2012 06:56 PM

Howie:

I thought you had a normal Down to Earth pension… in the normal sense of a pension.
( for those of us getting them, they are always NOT paying enough! LOL )


Are the politicians willing to give up their pensions too? Just like congress “ain’t gonna happen”.

It WILL happen… It MUST happen… In California, you do not understand what is happening…
The City of San Jose IS going to DO IT… (yes, this next Tuesday’s elections will be very interesting!)

It’s as simple as I said before.

It has gone too far… Government pensions are TOO FAR out of line… Something MUST be done to fix it… just like San Jose is working on. If it’s NOT fixed, declaring bankruptcy to force reorganization will be the ONLY other way to solve the problem.

Incidentally, California’s legislature IS going to take a CUT in Salary… 5% I think… which includes the Governor.
IMHO, is more of a gesture than really FIXING anything… it will help… but, not all of it…

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

View patcollins's profile

patcollins

1006 posts in 1617 days


#11 posted 06-04-2012 12:31 AM

Howie, you have read too many emails that spread falsehoods. Congressmen and Senators elected after 1982 are on the same system that other government employees are, the FERS retirement system.

It breaks down to
1) Thrift Savings Plan (401k basically) you deposit 5% they will deposit 5%
2) Annuity, 1% of your highest 3 working year average multiplied by your years of service (30 years = 30% of your max pay averaged over the last 3 years of your career)
3) Social Security

View Sawkerf's profile

Sawkerf

1730 posts in 1820 days


#12 posted 06-04-2012 03:22 AM

From what I’ve heard, the underlying problem is that the pension fund managers have been making assumptions about the expected rates of return on the fund. The actual ROR has been much less than the projections and the city (i.e. taxpayers) is required to make up the difference.

-- Adversity doesn't build character...................it reveals it.

View Joe Lyddon's profile

Joe Lyddon

7948 posts in 2804 days


#13 posted 06-04-2012 03:24 AM

You can’t squeeze blood out of a turnip…

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

View Howie's profile

Howie

2656 posts in 1675 days


#14 posted 06-04-2012 12:11 PM

Howie, you have read too many emails that spread falsehoods. Congressmen and Senators elected after 1982 are on the same system that other government employees are, the FERS retirement system.

It breaks down to
1) Thrift Savings Plan (401k basically) you deposit 5% they will deposit 5%
2) Annuity, 1% of your highest 3 working year average multiplied by your years of service (30 years = 30% of your max pay averaged over the last 3 years of your career)
3) Social Security
And my pension was based on hours worked. No workie no payie. But remember I’m one of those highly paid union members. I also remember the Reagan years when unemployment lines were out the door and down the street. I’ll bet the politicians didn’t lose any pension payments.
I’m just saying that it isn’t all on the shoulders of the unions.

-- Life is good.

View patcollins's profile

patcollins

1006 posts in 1617 days


#15 posted 06-04-2012 10:08 PM

Howie, do you really want congress to work more? Nothing they do is for you or me, it is for themselves, their chronies etc. They are basically salary employees, their job is to set a budget and to pass laws. Fankly we have had 200 years to make laws, probably millions on the books, why do we need more? Their salary is a meger jesture to make it appear atleast that they really make money off if is what they “steal”.

Most people dont understand when i say I dont want them working more, I want them to fight and bicker, because if they are busy fighting or sitting on a beach somewhere they arent screwing me.

Furthermore, no matter what the rules, tax rates etc are I want them to stay the same because I am smart enough to plan for that, its when they throw a curveball my way that my planning gets affected.

showing 1 through 15 of 26 replies

Have your say...

You must be signed in to reply.

DISCLAIMER: Any posts on LJ are posted by individuals acting in their own right and do not necessarily reflect the views of LJ. LJ will not be held liable for the actions of any user.

Latest Projects | Latest Blog Entries | Latest Forum Topics

HomeRefurbers.com

Latest Projects | Latest Blog Entries | Latest Forum Topics

GardenTenders.com :: gardening showcase