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Author: Capcon Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Re: Happy Birthday NOT!!! Date: 7/25/2005 12:40 AM
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And how do you think I feel when I read about all the public employees whose premiums I'm helping to pay with my tax dollars.

I can't speak for evey state nor every government retirement plan, but in New Jersey that is patently untrue, despite the politicians' protests to the contrary.

In NJ, police and firefighters contibute 8.5% of their salary to the pension fund, in addition to Social Security. (Just think how much you would have if you could invest that yourself over 25-30 years.) In the 90's the government gave themselves a moratorium on their own contributions to the plan, although they continue to campaign against the benefits that they don't help fund.

Yes, we have a great retirement plan and great benefits obtained in part by working for far less compensation over the course of our careers than we could have made in the private sector. I pay 10% of my health premiums, due to an employer change. Many who have worked for the same government agency for >25 years do not pay any of their premium.(I changed agencies mid-career.) But (at least in my plan) the taxpayers pay for NONE of it. The system is self-supporting.

Sorry for the rant. Sore subject.

Cap

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