[no_such_reality]

[quote=ocrenter]
the problem is a bit more complex than simply personal choice.

if this problem is simply personal choice, then why are 2/3 of all Americans are making the wrong choices now, vs 1/3 making the wrong choices 30 years ago?
[/quote]

Because we work too much.

Because too many have both parents working outside the home.

Because we use being busy and having ‘activities’ for our kids as a distraction, many running themselves ragged.

In the end, it is too much stress, too little time to live and too little time to actual plan and prepare healthy meals.

[no_such_reality]

SK, nobody should be forced to work to any age, if they have saved and planned for their retirement. He hit the sweet spot. A sweet spot that means in reality we will have paid him more than 2X his income for his years worked.

The issue is the lucrative nature of even the “modest” retirement plans of the rank and file State workers. Even the 2.5% plan, allowing people to retire after 30 years with a 75% of their average 3 years highest incomes will take a 25% annual contribution to provide and that’s not assuming COLA increases or health benefits or position promotions, which pushes it closer to 30%.

I’m perfectly fine with that plan as long as the employees are contributing say 20% a year and the state is contibuting 10% a year. At 10% a year, it would leave virtually every private company match plan in the dust.

For the cops and fire fighters that got the temporary 3%/50 deal, it’s just ludicrous and morally indefensible (even if legal.

Prison guards are a good example. They will tell you they need to contribute 8%. Then in different part of the contract, the State commits to make that contribution for them. The net result, CalPers reports that as an employee contribution, when in reality the guards aren’t contributing anything.

[no_such_reality]

[quote=bearishgurl]
How many professions in the private sector put their lives on the line every day and typically have MUCH less than stellar working conditions (clean cubicle/office, multi-line phone, computer and gadgets at their constant disposal, restroom and lunch nearby, etc, etc).[/quote]

Pay no attention to CalPers own records showing California Safety workers (Police, Fire, etc), outlive the general population.

[no_such_reality]

Retirement math is really simple.

If you want to retire at age 55 and be able to spend 75% of your previous income, you need to put away 25% of your salary every year.

It really is that simple. And that’s assuming an average return over the 30 year cycle of 7.5%.

A lower rate of return and you need even bigger contributions.

[no_such_reality]

The short answer is because we have too much money in politics.

[no_such_reality]

That’s an understatement.

They did that work paying less than $20,000 a year equivalent today. And that was the prevailing wage.

http://www.conservapedia.com/Works_Progress_Administration
“The WPA employed a maximum of 3.3 million in November 1938. Worker pay was based on three factors: the region of the country, the degree of urbanization and the individual’s skill. It varied from $19/month to $94/month. The goal was to pay the local prevailing wage, but to limit a person to 30 hours or less a week of work.”

[no_such_reality]

I grew up in Minnesota, the WPA projects were visible in every single park, the local courthouse, other buildings, bridges, etc. Beautiful work, lasting work.

This is a simple staircase in a small park. It’s common to have the accompanying buildings match for a full day at the park. Firepits, open air dining lodge, restrooms, boatramps, parking.
http://www.flickr.com/photos/casualcameracollector/4794196871/

Here’s a partial list of the how much they accomplished in the West with roughly half inflation adjusted dollars that we spent on the first bailout.

http://livingnewdeal.berkeley.edu/map/category.php

Look at it and weep when you realize how badly we’re being ripped off today.

We should have a list 4X as big as the Berkley list. We need a list 4X as big as the Berkley list.

Instead, we’ve lined the pockets of campaign contributors on both sides.

[no_such_reality]

Ah, the Penn State retirement.

http://www.budget.psu.edu/publicaccount/psuretirement.asp

So it could be a wide range of plans under TIAA CREF, but those look like independent style accounts. Basically, looks like the State has a 180% match.

The SERS plan isn’t as lucrative, don’t know which one he was in.

[no_such_reality]

I didn’t intend to debate the merits of his compensation, I instead would like to understand how a ‘retirement’ benefit geared to 2.5% per year of service, capped at 110% for extended service on a 3 highest years of service of ~$550K (seen articles saying retirement was based on a mere $240K) turns into a lump sum payout of $13 million after death.

That is a post death payout of 25X his highest income.

While extreme, it’s a good example. The retirement program that lead to this payout is the same style retirement program that many California State employees have, 2.5%/year times the average of the highest 3 years of service. It’s a defined benefit plan, so how does it turn into such a large lumpsum payout?

And by understand, I’d love to see the actual contributions to the plan he made each year to compare to what a private sector person would get with those same contribution. Because in the private sector, if I made $100K, 40 years ago, got a 5% raise every year, I’d be making $600K/yr now and would need a total contribution to retirement of 25%/year to have a value of $13Million assuming an 8% return every year.

[no_such_reality]

Do all the lifting you want, a 12 year old with a glock is far more dangerous.

[no_such_reality]

[quote=flu][quote=no_such_reality]We stopped shredding.

No, we’re not crazy. We just decided it was much more time effective and cheaper to just take it to the local business that does shredding. $10/bankers box.[/quote]

How you you know they are actually shredding and not just receiving $10 while looking at your papers? 🙂

Just saying[/quote]

Same way I know the postal carrier isn’t stealing my stuff. The car dealer didn’t steal my stuff. Any of the numerous banks didn’t steal my stuff. The 100+ people in HR at work didn’t steal my stuff, or the the 50+ IT people that could use their priveleges didn’t steal it. And the same way the every waiter I’ve handed over the credit card too and it left my sight in the restaurant didn’t max it out.

I don’t.

So I have other controls in place.

[no_such_reality]

We stopped shredding.

No, we’re not crazy. We just decided it was much more time effective and cheaper to just take it to the local business that does shredding. $10/bankers box.

[no_such_reality]

Lol. American would again be an economic juggernaut if American students took the classes the foreign students come and take.

That’s what they’ve overplayed.

[no_such_reality]

Yes that’s true but winners are looking to show up. They’d showing up all over the place checking if that’s the place and time. Too many others are waiting for the time and place to find them.

Colleges have 10-20 years left. They’ve over played their hand and are graduating droves with high debt and really no productitive skills. They are the new military industrial complex

[no_such_reality]

CAR. Nice hyperbole. It nobody will be dying in the street from gout. More importantly you fail once again to address the real issue which is the sense of entitlement allow said person to call emergency to take them to fill their script. You also fail to address the lack of controls. And desperately needed cold hearted was that will shunt them to wait or alternative care.

If you don’t treat gout ilt will cause problem that will eventually kill you. The individual needs to meet us half way

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