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  1. #1
    Cidp24's Avatar
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    Angry Pension Problems

    Look what I just found buried in our newspaper.

    http://www.clarionledger.com/apps/pb...=2011103130346


    Last week, at the height of the political drama over redrawing district lines, the state Senate quietly approved a budget bill that the state's pension manager says could shut down the retirement system.
    As a result, payments for thousands of retirees would be halted on July 1.
    I have worked, waited, and paid into this system for 26 years. The system has always been strong and well managed and the Legislature needs to stay out of it. They have been trying to screw with the State's retirement system for about 2 years now. They were succesful in raising our contribution rates last year. I hope everybody gets together and these fools get voted out of office before they screw me and a lot of others over.
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  2. #2
    Jenna's Avatar
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    Remember what they did, and vote them out as soon as you can.

  3. #3
    Cidp24's Avatar
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    Most definitely!
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  4. #4
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    from what I understand, the same kind of thing is happening in Oklahoma. The Police Pension is one of the best, most responsibly run pensions of all the government employee pensions. The teacher's pension is broke. So, from what I've been told, the new governor is going to try to bail out the failed pensions by combining them all together (thus taking advantage of the well-run police pension), which would screw with the particulars for us cops (now we're vested at 10 years, can retire at 20...if it changes, we won't vest until 15 and can't retire until 25).
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  5. #5
    Cidp24's Avatar
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    All State employees are already lumped together here but so far the retirement plan has done well. Only the Highway Patrol has a separate system, which is MUCH better than everybody elses for some stupid reason .
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  6. #6
    Motorwaycop's Avatar
    Motorwaycop is offline Retired Plod
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    They are trying to fiddle with our "final salary" scheme which is Govt run.
    I should be OK as will most current officers for the next few years but after that who knows.
    We have a good pension scheme and to be honest it's why alot stay in the job.
    However alot of people are ignorant to the fact we pay 11% of our wages into the scheme out of our monthly cheques.
    other public service unions all pay less some only 4-5% and guess what the Judges who get a fantastic pension only pay contributions of 1-2%
    Oh well looks like I'm being forced to retire at the right time, roll on November!
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  7. #7
    Tango Zulu 22's Avatar
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    Quote Originally Posted by Motorwaycop View Post
    They are trying to fiddle with our "final salary" scheme which is Govt run.
    I should be OK as will most current officers for the next few years but after that who knows.
    We have a good pension scheme and to be honest it's why alot stay in the job.
    However alot of people are ignorant to the fact we pay 11% of our wages into the scheme out of our monthly cheques.
    other public service unions all pay less some only 4-5% and guess what the Judges who get a fantastic pension only pay contributions of 1-2%
    Oh well looks like I'm being forced to retire at the right time, roll on November!
    Two months behind you mate.

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  8. #8
    Motorwaycop's Avatar
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  9. #9
    Car 4's Avatar
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    Quote Originally Posted by Cidp24 View Post
    Look what I just found buried in our newspaper.

    Pension payments at risk | The Clarion-Ledger | clarionledger.com




    I have worked, waited, and paid into this system for 26 years. The system has always been strong and well managed and the Legislature needs to stay out of it. They have been trying to screw with the State's retirement system for about 2 years now. They were succesful in raising our contribution rates last year. I hope everybody gets together and these fools get voted out of office before they screw me and a lot of others over.
    Not to worry, Mate. They tried that shit here some years ago....and we fought them to the state supreme court. Court said "A deal is a deal...pay up". They have tried to raid the fund several times but so far, they don't seem to want to mess with the cops/firefighters lobby. We have a LEOFF (retirement) coalition working here. Might do you some good to talk to them and see how you can mobilize.....in the meantime, there is plenty of case law to protect you should you have to go to court.


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  10. #10
    BigDawg's Avatar
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    The new Governor here wants to screw with our system too. He claims it needs to be fixed even though its the third best in the country and its currently 80-90% funded. He wants to increase our contributions and lower our multiplier from 3%-2%.
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