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Posted: 12/19/2018 9:48:30 AM EDT
[#1]
Muh health care.
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Posted: 12/19/2018 9:48:59 AM EDT
[#2]
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They actually should fire people they cant afford. They need to pay their obligations before buying new things. Quote HistoryQuoted:
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Quoted: Not over my head, it's just the system just can't handle the percentage of pensioned and health care retirees VS working employees anymore. They [company I work for] dumped the pension plan well over a decade ago for new hires and went to a 401K with match. They have changed the retiree health care numerous times. Initially they promised it until 65/SSI age. I doubt it'll get better with time and most retirees had 35+ years working, some closer to 40. The older 20 or so and out pensions are what is killing the system. No company or government entity can afford to pay for people to retire for around twice as long as they worked. Add in some that pay for spouse health insurance and you have a unsustainable retirement scheme that has now financially overloaded the system. The chickens have come home to roost. I don't say it with glee or happiness it's just factual. As a disclaimer, I'm a long term employee that has a pension [and I pay into a matching 401K to boot plus a HSA] but I'll likely take the lump sum option upon retirement and place it into a retirement fund over trusting the long term viability of the pension fund itself. The pension is funded quite well but employees of less then 10-12 years of employment don't get any pension at all, just the 401K. Watching those employees with a 401K in a market downturn is depressing..............one reason why you never put all your eggs in one basket. |
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Posted: 12/19/2018 9:49:08 AM EDT
[#3]
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Some animals etc.. Quote HistoryQuoted:
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Before it’s over we will all be paying cash for Doctors and medicine and insurance will be unaffordable. It is unrealistic for private citizens to work till they die to pay for health care for public employees who retire at 55 years or less age. Some only working for 20 years and then collecting a life pension and healthcare. It cannot continue. |
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Posted: 12/19/2018 9:49:14 AM EDT
[#4]
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Off to a slow start but the penguin is present and I'm hopeful for an after-dinner rush of shitposting. Time will tell.  |
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Posted: 12/19/2018 9:52:43 AM EDT
[#5]
Quote HistoryQuoted: If the agreement 25 or 30 years ago when they signed up was health premiums for life it should stand. Why should they be different? I don't know what your career was but did it entail the possibility of being killed every day? I see your from WI like me. In case you didn't know pension benefits are considered private property rights and can't be touched once you retire in our great state. |
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Posted: 12/19/2018 9:52:45 AM EDT
[#6]
Quote HistoryQuoted: Isn't that what the military has? |
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Posted: 12/19/2018 9:54:11 AM EDT
[#7]
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Pure genius on the part of unions to get the IL Constitution amended to include verbiage that pension benefits cannot be diminished. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... |
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Posted: 12/19/2018 9:54:56 AM EDT
[#8]
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The military retirement system is managed properly and is not an inordinate burden to taxpayers. Quote HistoryQuoted:
Quoted: Isn't that what the military has? |
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Posted: 12/19/2018 9:56:53 AM EDT
[#9]
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If that benefit was part of their employment then they should get it. If your employer made grandiose promises that could never be delivered that is between you and the employer |
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Posted: 12/19/2018 10:01:13 AM EDT
[#10]
So they couldn’t afford it once ObamaCare passed. Who would have thought?
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Posted: 12/19/2018 10:03:48 AM EDT
[#11]
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Didn't the residents vote in the amendment? Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... The existing pension law took effect on July 1, 1995. After a 15-year phase-in period, the law requires the State to contribute a level percentage of payroll sufficient to bring the retirement systems’ funded ratios to 90% by FY2045. The State’s funding plan defers a large portion of the required State contributions to future years, which has resulted in growth in the unfunded liability, the estimated benefits not covered by pension assets. Illinois pension funds have consistently ranked as among the worst funded of all the states, including in a recent survey by Bloomberg, which was based on FY2015 data. The five funds’ total unfunded liability stood at almost $19.5 billion, with a combined funded ratio of about 52%, before the law took effect. As discussed here, the total unfunded liability was $126.5 billion as of June 30, 2016 and the combined funded ratio was 39.2%, based on the actuarial value of assets. Besides insufficient State contributions, the unfunded liability has also grown due to changes in actuarial assumptions, poor investment returns and benefit increases, according to COGFA. The following chart shows the retirement systems’ projected total unfunded liability and combined funded ratio from FY2017 to FY2045. The unfunded liability is projected to keep growing through FY2028. Source We have a plan, lofl ETA: There's a cut little growth chart that puts all fear to rest  Attached File |
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Posted: 12/19/2018 10:04:24 AM EDT
[#12]
Quote HistoryQuoted: Let’s just hope your pension is still intact when you get there. Mine was looking iffy as fuck (74% funded) so I pulled the eject handle with 11yrs in. We try and save like it’s not going to be there. I consider it a bonus if it is. |
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Posted: 12/19/2018 10:05:26 AM EDT
[#13]
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It happened back in 95 and I do not know the answer. Found this tidbit: The existing pension law took effect on July 1, 1995. After a 15-year phase-in period, the law requires the State to contribute a level percentage of payroll sufficient to bring the retirement systems’ funded ratios to 90% by FY2045. The State’s funding plan defers a large portion of the required State contributions to future years, which has resulted in growth in the unfunded liability, the estimated benefits not covered by pension assets. Illinois pension funds have consistently ranked as among the worst funded of all the states, including in a recent survey by Bloomberg, which was based on FY2015 data. The five funds’ total unfunded liability stood at almost $19.5 billion, with a combined funded ratio of about 52%, before the law took effect. As discussed here, the total unfunded liability was $126.5 billion as of June 30, 2016 and the combined funded ratio was 39.2%, based on the actuarial value of assets. Besides insufficient State contributions, the unfunded liability has also grown due to changes in actuarial assumptions, poor investment returns and benefit increases, according to COGFA. The following chart shows the retirement systems’ projected total unfunded liability and combined funded ratio from FY2017 to FY2045. The unfunded liability is projected to keep growing through FY2028. Source We have a plan, lofl Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... The existing pension law took effect on July 1, 1995. After a 15-year phase-in period, the law requires the State to contribute a level percentage of payroll sufficient to bring the retirement systems’ funded ratios to 90% by FY2045. The State’s funding plan defers a large portion of the required State contributions to future years, which has resulted in growth in the unfunded liability, the estimated benefits not covered by pension assets. Illinois pension funds have consistently ranked as among the worst funded of all the states, including in a recent survey by Bloomberg, which was based on FY2015 data. The five funds’ total unfunded liability stood at almost $19.5 billion, with a combined funded ratio of about 52%, before the law took effect. As discussed here, the total unfunded liability was $126.5 billion as of June 30, 2016 and the combined funded ratio was 39.2%, based on the actuarial value of assets. Besides insufficient State contributions, the unfunded liability has also grown due to changes in actuarial assumptions, poor investment returns and benefit increases, according to COGFA. The following chart shows the retirement systems’ projected total unfunded liability and combined funded ratio from FY2017 to FY2045. The unfunded liability is projected to keep growing through FY2028. Source We have a plan, lofl |
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Posted: 12/19/2018 10:09:39 AM EDT
[#14]
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They'll just keep raising taxes. Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... The existing pension law took effect on July 1, 1995. After a 15-year phase-in period, the law requires the State to contribute a level percentage of payroll sufficient to bring the retirement systems’ funded ratios to 90% by FY2045. The State’s funding plan defers a large portion of the required State contributions to future years, which has resulted in growth in the unfunded liability, the estimated benefits not covered by pension assets. Illinois pension funds have consistently ranked as among the worst funded of all the states, including in a recent survey by Bloomberg, which was based on FY2015 data. The five funds’ total unfunded liability stood at almost $19.5 billion, with a combined funded ratio of about 52%, before the law took effect. As discussed here, the total unfunded liability was $126.5 billion as of June 30, 2016 and the combined funded ratio was 39.2%, based on the actuarial value of assets. Besides insufficient State contributions, the unfunded liability has also grown due to changes in actuarial assumptions, poor investment returns and benefit increases, according to COGFA. The following chart shows the retirement systems’ projected total unfunded liability and combined funded ratio from FY2017 to FY2045. The unfunded liability is projected to keep growing through FY2028. Source We have a plan, lofl |
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Posted: 12/19/2018 10:18:59 AM EDT
[#15]
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Yeah, it doesn't sound quite cricket to do this if an employee bases a decision to work for an entity with an express promise of lifetime health insurance, even after retirement, and then pull the rug after they fulfill their end of the bargain. Quote HistoryQuoted:
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Happens all the time in the private sector. I worked for 37 years, now retired...my company provided health insurance goes up every year, and could be cancelled at any time. Is it somehow different because I'm not a cop or FF? I don't like what is happening to them, but why should they be any different? |
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Posted: 12/19/2018 10:19:21 AM EDT
[#16]
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I think the next cash cow they will be eyeing for slaughter will be retirement income. More people are moving out than in, more people are going on disability, businesses are leaving. Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... The existing pension law took effect on July 1, 1995. After a 15-year phase-in period, the law requires the State to contribute a level percentage of payroll sufficient to bring the retirement systems’ funded ratios to 90% by FY2045. The State’s funding plan defers a large portion of the required State contributions to future years, which has resulted in growth in the unfunded liability, the estimated benefits not covered by pension assets. Illinois pension funds have consistently ranked as among the worst funded of all the states, including in a recent survey by Bloomberg, which was based on FY2015 data. The five funds’ total unfunded liability stood at almost $19.5 billion, with a combined funded ratio of about 52%, before the law took effect. As discussed here, the total unfunded liability was $126.5 billion as of June 30, 2016 and the combined funded ratio was 39.2%, based on the actuarial value of assets. Besides insufficient State contributions, the unfunded liability has also grown due to changes in actuarial assumptions, poor investment returns and benefit increases, according to COGFA. The following chart shows the retirement systems’ projected total unfunded liability and combined funded ratio from FY2017 to FY2045. The unfunded liability is projected to keep growing through FY2028. Source We have a plan, lofl |
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Posted: 12/19/2018 10:26:09 AM EDT
[#17]
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Well, they have an unlimited source of money.. for one. Quote HistoryQuoted:
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Quoted: Isn't that what the military has? |
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Posted: 12/19/2018 10:28:11 AM EDT
[#18]
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AT&T did that to us years ago. They're called HRAs (healthcare reimbursement accounts).  |
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Posted: 12/19/2018 10:38:34 AM EDT
[#19]
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Nope, the system is managed within its budget and its outlook is healthy; it's not facing a brick wall like the state and muni pensions. Quote HistoryQuoted:
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Quoted: Isn't that what the military has? There is so much of a concern they are recommending major changes to the current system. Report from Sept 2018 |
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Posted: 12/19/2018 10:43:11 AM EDT
[#20]
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Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Quote HistoryQuoted:
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Am I supposed to be outraged? Because I'm not. |
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Posted: 12/19/2018 10:44:42 AM EDT
[#21]
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Didn't the residents vote in the amendment? Quote HistoryQuoted:
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Quoted: Pretty much this... Buy your own f'n health insurance and stop expecting tax payers to pay for it. While we're at it, kill the taxpayer funded pensions and get a 401k like the rest of us. Plus the automatic 3% COLA every year was another genius move. For the life of me I cannot figure out why the pension system is so in the red... |
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Posted: 12/19/2018 10:44:49 AM EDT
[#22]
Quote HistoryQuoted:
Before it’s over we will all be paying cash for Doctors and medicine and insurance will be unaffordable. It is unrealistic for private citizens to work till they die to pay for health care for public employees who retire at 55 years or less age. Some only working for 20 years and then collecting a life pension and healthcare. It cannot continue.
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Posted: 12/19/2018 10:45:59 AM EDT
[#23]
Quote HistoryQuoted: old guys at the FD seem fairly common It's not uncommon to see a 50-55 year old driving an engine for a FD I suppose here we will see alot more police that age continuing to work so they don't lose their health insurance |
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Posted: 12/19/2018 10:50:33 AM EDT
[#24]
Quote HistoryQuoted:
If the agreement 25 or 30 years ago when they signed up was health premiums for life it should stand. Why should they be different? I don't know what your career was but did it entail the possibility of being killed every day? I see your from WI like me. In case you didn't know pension benefits are considered private property rights and can't be touched once you retire in our great state. Quote HistoryQuoted:
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Happens all the time in the private sector. I worked for 37 years, now retired...my company provided health insurance goes up every year, and could be cancelled at any time. Is it somehow different because I'm not a cop or FF? I don't like what is happening to them, but why should they be any different? |
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Posted: 12/19/2018 10:52:08 AM EDT
[#25]
Quote HistoryQuoted: Currently the fund (I guess the DOD retirement fund?) is facing close to $800 billion in unfunded liabilities. There is so much of a concern they are recommending major changes to the current system. Report from Sept 2018 There is a reason they are pushing the BRS on us. For the record, I am hoping to double dip on both the .mil and fire pension end. |
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Posted: 12/19/2018 10:53:13 AM EDT
[#26]
Quote HistoryQuoted: The military retirement system is managed properly and is not an inordinate burden to taxpayers. |
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Posted: 12/19/2018 10:54:08 AM EDT
[#27]
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He's always on a roll, but, he's one of my favorite posters.  Quote HistoryQuoted:
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You're on a roll tonight, BOSS. 
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Posted: 12/19/2018 10:56:01 AM EDT
[#28]
Basically the stipend won’t keep up with the increase in health insurance premiums in the years to come.
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Posted: 12/19/2018 11:00:10 AM EDT
[#29]
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News to me that FF suffer from increased risk of testicular cancer Quote HistoryQuoted:
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I wonder if private insurance policy pricing will be biased against firefighters given their testicular cancer rates from all of the shit they’re exposed to on the job. Save lives then hung out to dry. Kinda fucked up. Googled for backup and found this.. https://www.ncbi.nlm.nih.gov/m/pubmed/12594776/ |
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Posted: 12/19/2018 11:06:06 AM EDT
[#30]
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Nope, the system is managed within its budget and its outlook is healthy; it's not facing a brick wall like the state and muni pensions. Quote HistoryQuoted:
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Quoted: Isn't that what the military has? |
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Posted: 12/19/2018 11:07:18 AM EDT
[#31]
They can get Medicare.
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Posted: 12/19/2018 11:07:22 AM EDT
[#32]
Quote HistoryQuoted:
Did some side work for a career firefighter, said it was endemic among those he knew in that line of work. Googled for backup and found this.. https://www.ncbi.nlm.nih.gov/m/pubmed/12594776/ Quote HistoryQuoted:
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I wonder if private insurance policy pricing will be biased against firefighters given their testicular cancer rates from all of the shit they’re exposed to on the job. Save lives then hung out to dry. Kinda fucked up. Googled for backup and found this.. https://www.ncbi.nlm.nih.gov/m/pubmed/12594776/ |
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Posted: 12/19/2018 11:13:35 AM EDT
[#33]
Quote HistoryQuoted: lol. So that’s why they are pushing the BRS on us right? |
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Posted: 12/19/2018 11:13:54 AM EDT
[#34]
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They can get Medicare. |
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Posted: 12/19/2018 11:16:14 AM EDT
[#35]
A pension + healthcare thread.
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Posted: 12/19/2018 11:16:44 AM EDT
[#36]
Quote HistoryQuoted: Currently the fund (I guess the DOD retirement fund?) is facing close to $800 billion in unfunded liabilities. There is so much of a concern they are recommending major changes to the current system. Report from Sept 2018 |
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Posted: 12/19/2018 11:18:54 AM EDT
[#37]
Quote HistoryQuoted: old guys at the FD seem fairly common It's not uncommon to see a 50-55 year old driving an engine for a FD I suppose here we will see alot more police that age continuing to work so they don't lose their health insurance It beats the system going broke. |
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Posted: 12/19/2018 11:19:00 AM EDT
[#38]
Stop letting 40 year olds retire with full benefits.
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Posted: 12/19/2018 11:21:41 AM EDT
[#39]
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Stop letting 40 year olds retire with full benefits. 
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Posted: 12/19/2018 11:24:19 AM EDT
[#40]
Quote HistoryQuoted:
Stop letting 40 year olds retire with full benefits. |
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Posted: 12/19/2018 11:25:18 AM EDT
[#41]
Quote HistoryQuoted:
Stop letting 40 year olds retire with full benefits. |
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Posted: 12/19/2018 11:28:42 AM EDT
[#42]
Quote HistoryQuoted: Fire/police jobs are a young mans game. In the grand scheme of life that's not "old" but for police or FF it's damn near ancient! but you are pretty spot on. |
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Posted: 12/19/2018 11:30:17 AM EDT
[#43]
Quote HistoryQuoted: If the agreement 25 or 30 years ago when they signed up was health premiums for life it should stand. Why should they be different? I don't know what your career was but did it entail the possibility of being killed every day? I see your from WI like me. In case you didn't know pension benefits are considered private property rights and can't be touched once you retire in our great state. |
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Posted: 12/19/2018 11:33:38 AM EDT
[#44]
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40? Don’t be dramatic. I have to be 48 to retire Quote HistoryQuoted:
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Stop letting 40 year olds retire with full benefits. |
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Posted: 12/19/2018 11:33:53 AM EDT
[#45]
Eh, I'm just glad they're being responsible so the fund isn't bankrupt when I retire.
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Posted: 12/19/2018 11:39:03 AM EDT
[#46]
Quote HistoryQuoted: Boo hoo. Poor bastards hired after 2013 have to be 52 |
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Posted: 12/19/2018 11:40:11 AM EDT
[#47]
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Posted: 12/19/2018 11:41:33 AM EDT
[#48]
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Don't want to see any more... |
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Posted: 12/19/2018 11:42:02 AM EDT
[#49]
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They can get Medicare. People agree to these jobs for multiple reasons. All the while knowing up front they are trading their health. Nobody wants a medal that I know of. But we would like to finish under the terms we originally agreed to. I know now lots of peoples pensions have gotten screwed over. Fire and police are not special golden boys. But in the course of my career I have repetitively come into contact with chemicals and situations that have a cumulative effect on my health. I dont expect you to understand if you haven't been educated on it. Bottom line is these conditions can potentially make retirement years hard. And those retirement years come earlier for most because their body gets used up. So your medicare comment can be null and void for many as in their later years many can no longer pass the physical ability test. |
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Posted: 12/19/2018 11:42:10 AM EDT
[#50]
If you are counting on any one entity to take care of you....
Be it the Government A corporation A single investment even a single family member you are truly fucked |
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