In response to:

Public Pensions are Another Form of Theft

Matthew5 Wrote: Jul 21, 2012 3:20 PM
I respect what Mr. Ransom is saying but don't lump us all in the same boat. I work in a "right to work state". I have been a police officer for 24 years. The retirement plan in our state is solvent and will be. We pay full price for our insurance when we retire. We get our retirement only after 28 years. I understand the frustrations of the pension plans but we as officers do not get Social Security, only our retirement. I also would like to mention that most of these officers will retire injured in one way or another. It is impossible to do the job without getting hurt. I will be having nose reconstruction and elbow surgery soon thanks to a drug dealer. This will be my sixth surgery in my career. We don't work behind a desk.
Pamela166 Wrote: Jul 21, 2012 3:38 PM
Sure and how many "poor" retired police officers have you seen; MOST go find another job or department and end up as double dippers too.
Righty3 Wrote: Jul 21, 2012 3:35 PM
First, thank you for your service - I mean that with all sincerity.

Second, imagine how much better off you'd be today if *you* were allowed to control your financial future, instead of being victimized by liberals in government, unions, etc. Social security, for example, is usually only a 1-2% return if you live to be 72, and the assets workers pay into all their lives aren't even theirs to will to their families. From what you describe, you do even worse.

Now think of the people who invested 10% of their wages over a full career, earned an average 9% - and are walking away with at least $2-3M at retirement. They make no more than you, they just have less government and union intrusion in their lives.

Matthew5 Wrote: Jul 21, 2012 6:03 PM
I agree but this was what we were told we were going to pay into and that is all I have when I am done. We have one of the best pension plans in the country right now but are being lumped in with all the states that screwed up.
Sceolan Wrote: Jul 22, 2012 6:54 PM
I second this. I wonder if private retirement was offered as an option, how many individuals currently paying into Social Security would drop out? If Obama's motive to raise taxes on the Ultra Rich is to lower our debt, he has drank his own coolaid. If he is trying to be fair then perhaps he should start on the class of people and corporations who make it a practice of living off the government dole.

There is a dirty secret about state entitlements that liberals don’t want you to know. The collection of a state pension increases the chances that a pensioner will live in poverty. That’s because money put aside for state-guaranteed benefits can not be safely invested at rates that provide for more than a modest retirement unless the state subsidizes retirement benefits through taxes or if retirement savings are invested in riskier, higher yielding investments. Since governments are loath to raise taxes to subsidize a riskless retirement, benefits are eventually reduced. It works that way in London and Moscow as well as Madison...

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