View Poll Results: should you get gov retirement and SS

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  • yes you deserve both

    30 78.95%
  • No, get only your cushy gov retirement.

    8 21.05%
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Thread: Should retired government workers get SS

  1. #161
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    Re: Should retired government workers get SS

    Quote Originally Posted by Zyphlin View Post
    Really don't see that working out in that fashion...

    Average life expectancy is 78 years old, and trending upwards.

    I believe the government takes out a little under 0.8% per pay period it seems. For example, last year I had $390 taken out of my pay check for Retirement.

    Let's say my pay the past 5 years has been the same, and let's say it never goes up. I can retire at 57, meaning my time in the government would be 32 years total. I would have put in $12,480 dollars over those 32 years.

    In year one of retirement I would get the average of my high-3 (which, in this hypothetical, never got higher than what it is now) times my year in service times 1%. This would come out to roughly $15,680 for a year.

    So after my first year in retirement, I would come out +$3,200. Every year after I'm now in the positive. If I live to the average life expectency I would end up getting a total of $329,280 over those 21 years. This would be be $316,800 more than I put in or put another way, more than 2600% of what I actually paid.

    And that's assuming my salary never increases.

    Lets say for the next 5 years my salary stays the same. Meaning for my first 10 years I'm paying in $390 a year. So by the end of year 10, I'd paid $3,900.

    The next 10 years my salary goes up to $75,000. That would mean I paid $6,000 over that time span, with a total of $9,900 thus far.

    The next 10 years my salary goes up to $100,000. That would mean I paid $8,000 over that time span, with a total of $17,900.

    Finally, my last 2 years I go up to $125,000. That would be $2,000 over that two year period, bringing me to a final total of $19,900.

    Now, I need to look at my high three average. So that would could out to be $100,000. So my yearly take home for pension this time would be $32,000. By year one, I'm already ahead by more than twelve thousand dollars. By the 21 year mark, I'm up more than $650K.

    No, almost any way you do the math, the average government worker will get more back in their first year of pension then they paid in the entire span of time.
    Your numbers are different than mine. We get 4% deducted every pay period and if I retire with 30 years in at 62 I will collect 48% of my salary.
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  2. #162
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    Should retired government workers get SS

    I'm guessing you started before 1987 so you're on the now discontinued CSRS system.

  3. #163
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    Re: Should retired government workers get SS

    Quote Originally Posted by Zyphlin View Post
    I'm guessing you started before 1987 so you're on the now discontinued CSRS system.

    It was actually 1983 and as a Government employee I converted to FERS.
    "God Bless Our Troops in Harms Way."

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    Re: Should retired government workers get SS

    Quote Originally Posted by Maenad View Post
    Government workers have no choice but to pay into their pension plan, just like they have no choice but to pay into SS. They should not be denied their SS any more than someone who paid into the penson plan of GE or AT&T. And the pensions are not ridiculous. They are comparable to private sector plans as they should be. You clearly have a lump in your bed over people who have worked long enough and planned well enough to retire. Get over it and get a job.
    If you are a gov worker you don't have a job, you have welfare where you have to show up every day.

  5. #165
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    Re: Should retired government workers get SS

    Quote Originally Posted by Navy Pride View Post
    SS was never meant to be a sole source of income when you retire......It was meant to supplement any pension you might receive.....Sadly it has become a premier ponzi game that cannot survive in its present state.....
    An even bigger Ponzi scheme is these ridiculous gov retirement plans, state and fed. States like Calif are already running into trouble. The feds can print money to meet their retirement fund obligations which is why in an earlier post I said your nice retirement package eventually won't buy you a loaf of bread.

  6. #166
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    Re: Should retired government workers get SS

    Quote Originally Posted by sawyerloggingon View Post
    An even bigger Ponzi scheme is these ridiculous gov retirement plans, state and fed. States like Calif are already running into trouble. The feds can print money to meet their retirement fund obligations which is why in an earlier post I said your nice retirement package eventually won't buy you a loaf of bread.
    I saved when I was in my working years and although I am not wealthy could do without it and would be willing to do so if all Americans in my pay grade would do the same....would you do that?
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    Re: Should retired government workers get SS

    Quote Originally Posted by sawyerloggingon View Post
    If you are a gov worker you don't have a job, you have welfare where you have to show up every day.
    That might be true of some Gov workers as it is in others companies in society....It was not true with the organization I worked for.....It is true I made a good salary but I worked hard for it.........As and employee of NAVSEA we did all the planning for repairs of the aircraft carrier fleet when they were in the Navy Yard......You can't paint everone with the same brush.......It does not work tht way.
    "God Bless Our Troops in Harms Way."

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    Re: Should retired government workers get SS

    Quote Originally Posted by AreteCourage View Post
    You would think we could fix that little discrepancy...you should only get back what you pay into it.
    Wrong the monies collected for SS have and are being used by the government so the money being paid in should be collecting interest just like the money paid into any pension or retirement account.

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    Re: Should retired government workers get SS

    Quote Originally Posted by Navy Pride View Post
    SS was never meant to be a sole source of income when you retire......It was meant to supplement any pension you might receive.....Sadly it has become a premier ponzi game that cannot survive in its present state.....
    Who are you to determine what someone else uses THEIR money for? Provide a source for your opinion.

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    Re: Should retired government workers get SS

    Quote Originally Posted by EarlzP View Post
    Who are you to determine what someone else uses THEIR money for? Provide a source for your opinion.
    The source is me my left wing friend.........I could care less how people spend their money Just don't come crying to me my left wing friend when your broke..........Got that????

    Are you one of those lefties who want to spend a lot of money as long as its not yours but the taxpayers......
    "God Bless Our Troops in Harms Way."

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