Quote:
Originally Posted by scottw
pretty sweet deal for 180 days a year
a part time worker putting in 3.5 days a week would be working 182  |
And their contribution to their pension, is 5% of each paycheck. For a 5% contribution, they will get an annual pension of more than 75k a year, starting at age 59 (compared to social security, where we contribute almost 13%, and at best will get 35k a year starting at age 67!!). That is INSANE. They could contribute 25% of their paycheck, it wouldn't fund that pension. And they expect the taxpayers to make up the difference.
I tell my brother and sister-in-law all the time to make other plans. They will not be getting that full pension, no way, no how - and they need to prepare for that. The state will declare insolvency long before they are dead, probably before they retire. Then we will re-negotiate those contracts.
And that's the irony. In the end, the people who get hurt the worst, are the union members who believed the unions and the politicians, who made ridiculous pension promises, in return for union dues and campaign contributions. It's beyond bad policy, it's evil. But when I warn people about what's coming (and it's coming, make no mistake), they say I hate teachers and cops.
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