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Author: ferjen 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 75339  
Subject: Re: Retirement savings benchmark Date: 1/22/2013 6:14 PM
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The point is, they get a pension. Over 80% of private sector workers won't. And in my case, being one of the few who will actually get a pension, it will be a very small part of my retirement income - maybe enough to go out to eat a few times each month.

Ahh, but the private sector compensation is considerably higher. This is the tradeoff for State of Florida employees. I know that in my profession, for instance, the compensation on the private side is more than 50% above that of the comparable State of Florida employee. It's all relative.

Actually, I'm happy that I don't have to count on taxpayers to fund a large portion of my retirement, because I think that many of the governmental organizations that have promised these pensions are going to have a difficult time meeting their obligations. I'm not counting on SS either - if I get anything from that, it will be a bonus.

Agreed and kudos. Great minds think alike.

But multiple posts complaining about how bad the promised pension benefits are seemed like carping to me, especially since whatever 'little' pension will be received is vastly greater than what most private sector employees will get.

Not carping, just setting the record straight. A poster suggested government employees were getting fat, dumb, and happy off of the taxpayers. I agree with this for Federal employees and for many States. But, I happen to know Florida does NOT fit that description. State of Florida employees are not unionized and have no power to seek benefits comparable to Federal employees or employees of other states, particularly unionized states. As a worker in Florida, I am glad that Florida is a right to work state as I view unions as extortionist. And as I stated above, the 'little' pension that State of Florida employees receive (and new employees will not receive as of when Rick Scott took over) was effectively paid for by the (deferred) salaries those employees did not receive while they were working. And those pensions would still put said employees below the poverty level. Not all government employees are takers. Most do the work because they like to serve the public.
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