Pensions, how do you pay for them??

[Eyeman2]

Pensions are Ponzi Schemes. Ponzi was an Italian man who took money from people with the promise to pay them more than they paid in. He prospered for several years, rubbed elbows with the rich & famous, until he had more going out, than he had coming in. Collaspe/Boom/Busted, Jailed
Same as a pension plan.You have to keep the $$ coming in to support the people at the top (retired) and now they are living longer, so sooner or later the Fed Gov steps in and gives taxpayer $$ to the unions or the pension plans and everyone is happy except the taxpayers who the Gov took $$ from.
Bernnie Madoff??
Look at the facts...sooner or later your taxes are going to go up(city,county,state Fed taxes) to support these people, or the Fed is just going to pass a law ( Bill) & TAKE your money>>
I'm retired and my retirement was; what was left over after overhead, I got to keep. If anyone wants to contribute to my pension, I'll give you back 2$ for every 1$ you give me, in, say "a few years".
OR; I could write my Congressman and get him to bail me out, or I could form a Union and force all the CFF Members to pay into a fund, which I would be the Master of, and decide where the money should go, and I'll be in Key West catching Bone fish, describing to all other anglers, just how nice the guys are on the CFF.
Thank You,
emoCool

 

[Bfish]

Pensions started disappearing about 25 years ago. Is there any companies that are still offering pensions to new hires?

 

[Liveliner]

Bfish - 8/5/2010 8:38 PM Pensions started disappearing about 25 years ago. Is there any companies that are still offering pensions to new hires?

</p>

What about Chattanooga Fire and Police pensions?</p>

 

[foodsaver]

Unum has a pension plan but I bet it will be unfunded by the time it gets to me.

 

[Jmax]

I huge problem with the pensions and same with Social Security is they use the money for other things. Then they claim it is going broke. It was not too many years back you could expect a return of 8 to 10% on investments, when was the last time you saw that? Now with more people that do the investing taking cuts the little percents you see are eat up before you ever get them. If the interest had not gone south so badly the money paid in on these retirement account would still be there earning interest and growing. Now with more going out and very little interest you can expect to work longer and see less people retiring cause they will not be able to afford it. Our government has been spending our social security retirement for years on other items and things. Not to mention borrowing from it. Now they are talking about increasing the retirement age to 72. emoBang How many employers do you think are going to be hiring 70 year olds. There are only so many greeter spots at Wal-Mart and there is a limit to how many they can hire. Just another way to never pay you back what you paid in. emoAngry You can bet that the 30 and under group out there right now will never see any of that social security money. Hell...for that matter I may never see it and I am 52. emoMad Jmax

 

[buzz]

If we don't get that IDIOT-LITTLEFIELD out of the mayors seat....those Police and Fireman pensions may dissappear. Just ask a veteran Fireman.

 

[Bfish]

Liveliner - 8/5/2010 6:10 PM

Bfish - 8/5/2010 8:38 PM Pensions started disappearing about 25 years ago. Is there any companies that are still offering pensions to new hires?

</p>

What about Chattanooga Fire and Police pensions?</p>

Yup it appears they have one. I was thinking more along the lines of private industry, but your right they have a pension plan.

 

[buzz]

Bfish...not a private company...but the Railroads still have a pension plan. Enjoying mine! Hope it doesnt ever revert back to SS.

 

[beetlespin]

I work for Invista (Koch Industries) and we still have a pension plan. Also have 100% match up to 6% on 401k contributions. I wish they would just let me put it all in my 401k.

 

[Guest]

If i'm not mistaken that is one of the reasons that they want to merge the county and city and become metro because the county don't offer them and they can take them away. I agree get the man out.

 

[Eyeman2]

Rail Roads & Post Office retirements...you don't have to worry...The taxpayers keep you going...( 1.1 Billion$$ for rail repairs,taxpayers $$)Post Office LOST another $3 BILLION, predicted to loose more in the years to come...even after another rate increase.
Another couple too big to FAIL.
Gotta wake up taxpayers and take back the USA

 

[Eyeman2]

Now I have had family retired from Chatta fire & police departments, so don't get me wrong about their duty & service to the property & people they protected.
If you have 100 firemen retired and say; they draw $25,000 retirement, then you have to have 168 working firemen to pay their pension. If you can add and subtract, you will see it does not take long before you could have more retired and drawing than working, and soon city/couny would have to raise taxes to pay for all of the above.
It's jsut taxes,,,spend it, the working man has deep pockets.
The only pyramid still standing is in Egypt and we have no idea how they built them.Maybe we can figure out the Great Pyramid, and the rest will fall into place.

 

[buzz]

So...if the taxpayers are footing all the railroad retirements and such....where can I go to get all that I invested for 35 years? Now if your talking about the NEVER MADE A DIME...AMTRAK....thats a different story! emoScratch

 

[millers5898]

I think TN State employees , teachers , highway patrol , TWRA , they have a pension , it is 50% of thier last five tears wages .

 

[millers5898]

years

 

[Eyeman2]

The center for Public Integrity....sponsered by Warren Buffet & Barry Obama. check out the railroad we are about to get railroaded into.