Joe Miner Posted June 11, 2012 Share Posted June 11, 2012 What's that supposed to mean? Are you talking about what I do? There is production... Just not in the classic sense. What I do is constituionally mandated. Even the founding fathers realized this production going back 200 years of waterway legal precedent. You might want to be like 3rd and think it is just "toll collecting", fine... But it is not. Operating as an aide to navigation while producing the actual flow of the river/canal, there is "production". In survey, money was appropriated through the rivers and harbors act... How old is that... Going back over 100 years ago to some of the first acts. Survey was done to determine dredge operations and how much material would (or even should) be moved. At locks and dams, America is also kept competitive with the rest of the world through cheap transportation... The taxpayer is getting the ultimate return on their tax dollars with the inland waterways. Again, my field site alone was built for 6 million dollars back in 1960 tacked onto Seaway appropriation. Today a 60 day closure costs the regional and local economy 18 million dollars. The carp battle alone has appropriated a whopping 100 plus million dollars... Even in terms of today's dollars... Something is grossly wrong when you have a bought and paid for infrastructure stimulating the ecomomy robustly while people are crying about stopping a silly fish that will cost them in the 100's of miilions alone to MAYBE stop migrating... IMO, most likely NOT stop. You we have zebra mussels in lakes that are separated by the Rocky Mountains. This cost will even be in the multiple billions if they were to severe and replumb that region's waterways... So sorry for digressing... Lot to think about when it comes to American competitiveness Who's not producing? Sorry for the bad typing... Everything is coming off my Droid. Thought you put out some general info on federal jobs. I replied in general about federal employees. I replied that your list is a good set of benefits for a **** ton of people that don't/can't produce anything. Are you a **** ton of people? Then why did you assume my response was directed personally at you? Kinda defensive when you thought someone was questioning the importance of your job. Wonder what that indicates... Link to comment Share on other sites More sharing options...
DC Tom Posted June 11, 2012 Share Posted June 11, 2012 Are you talking about what I do? There is production... Just not in the classic sense. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 11, 2012 Share Posted June 11, 2012 Thought you put out some general info on federal jobs. I replied in general about federal employees. I replied that your list is a good set of benefits for a **** ton of people that don't/can't produce anything. Are you a **** ton of people? Then why did you assume my response was directed personally at you? Kinda defensive when you thought someone was questioning the importance of your job. Wonder what that indicates... Since I laid into the docs, conservatives have been coming to the rescue... I was being attacked too. I am sorry... I caught that later. Again, sorry... Boy, they really circle the wagons around here... I forgot how this place was. Plus the amount that's being dumped into their FERS by us is pretty nice. And the payout at the end is greater than any investment can generate especially with the life expectancies we have now. That is why many of our government agencies (Fed, State, Local) are in so much trouble. Whe they've done here in CA over the years is to take on more risk with the pension pool which has a higher historical ROR so it makes their future numbers look better. A recipe for disaster. The FERS pension pool is the 1.5% I kick in. The 4.5% is TSP. 1% is automatic... I save 20%... So yes, 4.5% is kicked in by my agency. My wage is set on par with local industry though (John Deere, Moline). Link to comment Share on other sites More sharing options...
Chef Jim Posted June 11, 2012 Share Posted June 11, 2012 The FERS pension pool is the 1.5% I kick in. The 4.5% is TSP. 1% is automatic... I save 20%... So yes, 4.5% is kicked in by my agency. My wage is set on par with local industry though (John Deere, Moline). I understand what you're putting in. The fact that you only HAVE to contribute 1.5% to your pension is the sweet part of the deal. Most Americans don't have that kind of a deal and are required to fund their own retirement. Which in my mind is the way it should be and the way most Americans think. All you need to do is look at the recent elections in Wisconsin, San Jose and San Diego. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 12, 2012 Share Posted June 12, 2012 (edited) I understand what you're putting in. The fact that you only HAVE to contribute 1.5% to your pension is the sweet part of the deal. Most Americans don't have that kind of a deal and are required to fund their own retirement. Which in my mind is the way it should be and the way most Americans think. All you need to do is look at the recent elections in Wisconsin, San Jose and San Diego. Don't be under the impression I get a full pension... Under FERS it is only like 60% of your pay... Now, under CSRS, I think it is closer to 80%. CSRS is the old (prior to 1983) system... They (employee) do not kick into SS, and they put in around 7.5% to their pension. With FERS, TSP is a very imporrant component... Along with SS at 65. That FERS pension annuity is little from what I hear. I am not too up on it since I am a long way from retiring (it is also age dependant)... Most likely that will be gone and given to the rest of the nation when I retire. SS, same thing... It will be gone when it is time for me. Me? I am purely banking on my nest egg (TSP). Edited June 12, 2012 by ExiledInIllinois Link to comment Share on other sites More sharing options...
Chef Jim Posted June 12, 2012 Share Posted June 12, 2012 (edited) Don't be under the impression I get a full pension... Under FERS it is only like 60% of your pay... Now, under CSRS, I think it is closer to 80%. CSRS is the old (prior to 1983) system... They (employee) do not kick into SS, and they put in around 7.5% to their pension. With FERS, TSP is a very imporrant component... Along with SS at 65. That FERS pension annuity is little from what I hear. I am not too up on it since I am a long way from retiring (it is also age dependant)... Most likely that will be gone and given to the rest of the nation when I retire. SS, same thing... It will be gone when it is time for me. Me? I am purely banking on my nest egg (TSP). So you get SS and a pension. Nice double dipping. Oh and BTW if you're getting 60% of your income from FERS plus SS you shouldn't be putting so much money in to your TSP. Actually you shouldn't be putting really anything in it. Edited June 12, 2012 by Chef Jim Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 12, 2012 Share Posted June 12, 2012 So you get SS and a pension. Nice double dipping. Oh and BTW if you're getting 60% of your income from FERS plus SS you shouldn't be putting so much money in to your TSP. Actually you shouldn't be putting really anything in it. I see another one is out of touch... What dream world do you live in? Who says I don't pay into SS... It is adjusted to acoount for my pension. CSRS never paid into SS, that is why they get a bigger pension and do not collect SS. NEWSFLASH: By the time 2030 rolls along and I am due to retire, FERS pension will be gone and so will SS... I am giving that to YOUR GENERATION. I have heartburn with that, but I will eat the costs. How much more do you want? My first born... PLEASE take him! For a financial adviser, you really should know more than the pablum puking conservative myths out there... Get past the soundbytes. I was born in 1968... I am basically screwed when I retire unless I rely on my own savings... Even that is not a sure bet... I would not be shocked if the gov't raids TSP too... Link to comment Share on other sites More sharing options...
Chef Jim Posted June 12, 2012 Share Posted June 12, 2012 (edited) I see another one is out of touch... What dream world do you live in? Who says I don't pay into SS... It is adjusted to acoount for my pension. CSRS never paid into SS, that is why they get a bigger pension and do not collect SS. NEWSFLASH: By the time 2030 rolls along and I am due to retire, FERS pension will be gone and so will SS... I am giving that to YOUR GENERATION. I have heartburn with that, but I will eat the costs. How much more do you want? My first born... PLEASE take him! For a financial adviser, you really should know more than the pablum puking conservative myths out there... Get past the soundbytes. I was born in 1968... I am basically screwed when I retire unless I rely on my own savings... Even that is not a sure bet... I would not be shocked if the gov't raids TSP too... I never said you didn't pay into SS. I said you have both SS and a pension which most of us don't have. If you're afraid the government will raid your TSP they why are you putting money into it? Besides that will never happen. That's your money. But still you shouldn't be putting money into it. Or at least as much as you are. Oh BTW you're one bitter SOB! Edited June 12, 2012 by Chef Jim Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 12, 2012 Share Posted June 12, 2012 I never said you didn't pay into SS. I said you have both SS and a pension which most of us don't have. If you're afraid the government will raid your TSP they why are you putting money into it? Besides that will never happen. That's your money. But still you shouldn't be putting money into it. Or at least as much as you are. Because in the end I do what is best for the country and not myself... As much as you don't understand... Again, somebody will have to take a hit... True I get heartburn, but it passes... I have faith to carryon. Like maybe my grandfather. Had his pay cut in half by FDR, got paid in gold coins... Yet was forced by fear to turn that gold in for cash... He called FDR a "crippled bastard" till the day he died... Yet, he voted for him everytime... Call it stupid, but he knew going back to the prior New Deal days was even worse for him. Turn the clock back boys... You reap what you sow. Anyway... I have to put TSP money in... It is important... How the heck am I gonna live on a 30k pension... Well I can, but way below my working lifestyle. I am not gonna collect SS until 65... If I collect... Heck it may be 72, 75 or so at that time if it is solvent. Anyway... My retirement is very much a three part thing. Basic pension TSP SS Even when I retire... I still have to pick up health premiums... That is out of control. Literally, tnose might be more than my pension annuity! Link to comment Share on other sites More sharing options...
Chef Jim Posted June 12, 2012 Share Posted June 12, 2012 Because in the end I do what is best for the country and not myself... As much as you don't understand... Again, somebody will have to take a hit... True I get heartburn, but it passes... I have faith to carryon. Like maybe my grandfather. Had his pay cut in half by FDR, got paid in gold coins... Yet was forced by fear to turn that gold in for cash... He called FDR a "crippled bastard" till the day he died... Yet, he voted for him everytime... Call it stupid, but he knew going back to the prior New Deal days was even worse for him. Turn the clock back boys... You reap what you sow. Anyway... I have to put TSP money in... It is important... How the heck am I gonna live on a 30k pension... Well I can, but way below my working lifestyle. I am not gonna collect SS until 65... If I collect... Heck it may be 72, 75 or so at that time if it is solvent. Anyway... My retirement is very much a three part thing. Basic pension TSP SS Even when I retire... I still have to pick up health premiums... That is out of control. Literally, tnose might be more than my pension annuity! Pension = Taxable TSP = Taxable SS = Taxable You're going to get killed with taxes at retirement. That's why I said you should not contribute to your TSP and contribute to something that will give you a tax break at retirement. You said you're not going to collect SS until 65. When does your FERS kick in? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 12, 2012 Share Posted June 12, 2012 Pension = Taxable TSP = Taxable SS = Taxable You're going to get killed with taxes at retirement. That's why I said you should not contribute to your TSP and contribute to something that will give you a tax break at retirement. You said you're not going to collect SS until 65. When does your FERS kick in? I should have a Roth IRA set up on my side of things? I must be a fool trusting the gov't seeing where they are headed... I am not sure about the FERS, can't remember... But I think it is 58.5 (2026ish at the earliest) years for the dirt minimum... And then into my 60's for it to be worth anything, I have to check. If the wife doesn't ditch me... She's is the main bread winner... That's really the ace in the hole... Both of us work... She's the CEO, I am labor... LOL. But by no means is she is one of those Illinois pension fat catters... By a mile! Probably born 10 years too late?? Link to comment Share on other sites More sharing options...
Chef Jim Posted June 12, 2012 Share Posted June 12, 2012 I should have a Roth IRA set up on my side of things? I must be a fool trusting the gov't seeing where they are headed... I am not sure about the FERS, can't remember... But I think it is 58.5 (2026ish at the earliest) years for the dirt minimum... And then into my 60's for it to be worth anything, I have to check. If the wife doesn't ditch me... She's is the main bread winner... That's really the ace in the hole... Both of us work... She's the CEO, I am labor... LOL. But by no means is she is one of those Illinois pension fat catters... By a mile! Probably born 10 years too late?? If you're so paranoid about the government why in earth do you work for them? That's the craziest thing. If I felt that way about my employer I'd have left a long time ago. Link to comment Share on other sites More sharing options...
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