Public Employee Pensions

[Alaska Darin]

Article 1

 

Article 2

 

But let's cut teachers and cops. After much research, it turns out that Pensions are pretty much guaranteed by Illinois' State Constitution. Good luck paying for that, liberals.

[pBills]

Article 1

 

Article 2

 

But let's cut teachers and cops. After much research, it turns out that Pensions are pretty much guaranteed by Illinois' State Constitution. Good luck paying for that, liberals.

 

 

Wondering when these pensions were put into place.

[Alaska Darin]

Wondering when these pensions were put into place.

Very likely in a time when there were far fewer state employees and the long term hard and soft costs were much more palatable. In other words, before people figured out a way to take advantage of the system via unions, political appointments, etc.

[pBills]

Very likely in a time when there were far fewer state employees and the long term hard and soft costs were much more palatable. In other words, before people figured out a way to take advantage of the system via unions, political appointments, etc.

 

 

Probably true and sad. That is why I wish unions would open their eyes a bit and redo some of their contracts. It would be in their best interest to do.

[Pine Barrens Mafia]

Ah, teachers unions. Bastions of the American ideal.

[EC-Bills]

Article 1

 

Article 2

 

But let's cut teachers and cops. After much research, it turns out that Pensions are pretty much guaranteed by Illinois' State Constitution. Good luck paying for that, liberals.

 

Being that I work at the U of I, I recognize some of the names on the list and am not surprised.

 

Don't worry, it gets even better. What that article doesn't mention is that a portion of these retirees after waiting the state mandated 30 days of separation go back to work for the University for a 70-80% work appointment. Thus you have folks double dipping.

 

It'll be interesting to see what happens when the next set of douches are elected in Novemer. I am not holding my breath though due to !@#$ing Chicago area liberals.

[Dante]

Being that I work at the U of I, I recognize some of the names on the list and am not surprised.

 

Don't worry, it gets even better. What that article doesn't mention is that a portion of these retirees after waiting the state mandated 30 days of separation go back to work for the University for a 70-80% work appointment. Thus you have folks double dipping.

It'll be interesting to see what happens when the next set of douches are elected in Novemer. I am not holding my breath though due to !@#$ing Chicago area liberals.

sigh...I'm just getting more and more down every day. I hope California legalizes weed soon. I think I might take it up as a hobby.

[Doc]

Are these pensions based on the last 2 years of service, where most rack up the OT to make their pensions artificially higher?

[Pine Barrens Mafia]

Are these pensions based on the last 2 years of service, where most rack up the OT to make their pensions artificially higher?

 

 

You mean like the Allentown Police Department? Ya, those crooked pigs take all the OT they can their last two years and retire with 80-100k a year pensions.

[Alaska Darin]

In Illinois it's a percentage of the average of the highest 4 earning years of the final 10 of service. The max is 75% of the average and the employee must have 30 years of service. There are automatic 3% annual raises, so nearly half of retirees earn more in their pensions than they ever did while they were working.

 

Try not working for government and ending up like that. Unfriggin' believable. Good luck, taxpayers of Illinois. You're totally !@#$ed.

[EC-Bills]

Are these pensions based on the last 2 years of service, where most rack up the OT to make their pensions artificially higher?

 

For the State University Retirement System (SURS), things are calculated in a couple ways:

 

What earnings will be used to calculate my pension under the Traditional or Portable plan?

SURS uses a figure called "Final Average Earnings" to calculate your retirement annuity if you are on either the Traditional or Portable Plan. SURS calculates these in two ways and uses the higher earnings figure, either:

 

• the average of the 4 highest-paid consecutive academic years of employment; or
  

 

• the average of the last 48 months prior to termination of employment.
  

 

The academic year is the 12-month period starting on the first day of the fall term. For the University of Illinois, the period is August 16 through August 15. Overtime Pay and Summer Session earnings are included in the calculation. Accrued vacation earnings up to 56 workdays are included if they are paid when you terminate employment. Payment for sick leave is not included in the calculation. Also, with few exceptions, earnings during any academic year after June 30, 1997, which exceed the previous year earnings by more than 20% will be excluded from the calculation.

 

 

So to answer your question, it's entirely possible and regularly done.

[pBills]

You mean like the Allentown Police Department? Ya, those crooked pigs take all the OT they can their last two years and retire with 80-100k a year pensions.

 

 

THAT is ridiculous. Pension should only be based on actual salary, never take OT into account.

[VABills]

THAT is ridiculous. Pension should only be based on actual salary, never take OT into account.

Now you're starting to see part of the issue that we've been saying all along. I don't think most folks here have issues per say with pensions, it's just how the unions have corrupted them and the metrics that go into formulating what the numbers are.

[pBills]

Now you're starting to see part of the issue that we've been saying all along. I don't think most folks here have issues per say with pensions, it's just how the unions have corrupted them and the metrics that go into formulating what the numbers are.

 

 

Can't place all of the blame on the unions. Come on both sides have to agree on contracts and deals.

 

Like AD said "Very likely in a time when there were far fewer state employees and the long term hard and soft costs were much more palatable."

[KD in CA]

You mean like the Allentown Police Department? Ya, those crooked pigs take all the OT they can their last two years and retire with 80-100k a year pensions.

 

80-100k? That makes you a chump in NYC. Story in the paper the other day about cops and firemen retiring with pensions near and over $200k.

 

Boy, where would we be without those unions.

[KD in CA]

Can't place all of the blame on the unions. Come on both sides have to agree on contracts and deals.

 

Ridiculous argument to excuse rampant corruption. Who exactly is the 'other side' negotiating against the unions? Some elected POS that is taking huge payoffs from the same union? Yeah, that's a balanced negotiation.

[pBills]

Ridiculous argument to excuse rampant corruption. Who exactly is the 'other side' negotiating against the unions? Some elected POS that is taking huge payoffs from the same union? Yeah, that's a balanced negotiation.

 

 

You may call it ridiculous, however it is true. BOTH sides have to come to an agreement. Although, why even bother discussing this with you. I'll let you keep on with the same BS "Union BAD. Union CORRUPT everyone it deals with".

 

Nice approach.

[Magox]

http://reason.com/blog#article_140315

 

As unemployment stubbornly sticks near 10 percent and any sort of economic recovery seems a long way off, think about this: The one part of the economy that's going gangbusters is government work.

 

Indeed, since the Great Recession started in December 2007, over 8 million jobs have been lost in the private sector while the public sector has added at least 100,000 positions. It's time to recognize that public-sector employment is killing the economy for at least three reasons:

 

1. They cost too much. As USA Today recently noted, federal employees make on average almost $8,000 more than their private-sector counterparts. When you add in benefits, the gap spreads to about $30,000. State and local government workers make around the same as private-sector counterparts, but their health and retirement packages mean they make significantly more in the end.

 

2. We can't fire them. The private sector has shed positions in response to slackening demand and the economic downturn. That sort of adjustment is painful but necessary, as it allows the economy to adjust to changing circumstances and workers and employers to move into new activities. Because it is guaranteed certain amounts of tax revenue and has a non-market mind-set, the public sector is largely insulated from such forces and keeps or even adds workers despite changed conditions. The result? We keep paying for things that we don't use, need, or want.

 

3. They create a permanent lobby for expanded government and higher taxes. Look at California, where teacher unions have spent over $211 million dollars on elections in the past decade. One result is that 40 percent of California's budget must be spent on education, regardless of the number and needs of students. Over the last 10 years, taxpayer contributions to public-sector pension funds has increased by 2000 percent! Such sort of tax-based gladhanding is just getting started. For the first time in history, the number of public-sector union employees is greater than those in the private sector, so expect to see even more lobbying for the sorts of mandatory raises and permanent job security that most of us can only dream of.

 

Because the public sector gets its pay and benefits from tax dollars and public debt, every thing it gets means there's less for the rest of us to save, invest, or pay workers with. With the federal government and most states already neck-deep in red ink, it's time to cut public-sector pay and payrolls and return more money to the private sector. That will help spur the sort of investment and innovation that will get the economy moving and end the recession far faster than paying more and more money to government workers.

[KD in CA]

You may call it ridiculous, however it is true. BOTH sides have to come to an agreement. Although, why even bother discussing this with you. I'll let you keep on with the same BS "Union BAD. Union CORRUPT everyone it deals with".

 

Nice approach.

 

 

Once again, who is the other side? And whose money are they negotiating with?

 

Keep ducking.

[pBills]

Once again, who is the other side? And whose money are they negotiating with?

 

Keep ducking.

 

 

I know, you are saying that the unions negotiate their contracts with those whom they support during the election years. Yes, those very elected officials are in the pocket of the union.

 

Again, you are right... everyone is corrupt.