How exactly is a public pension fund actually funded? I know the employee puts aside X amount but how much does the state put in and where does the state get the money? Where/ how does the state get the money? What is it about cops,firefighters pensions that are so outrageous? I am intrigued by this debate and having found the complete answers. Thanks guys
But doesn't a percentage of our taxes go to state( public) pensions regardless? Do cops and fireman get higher amounts compared to what they put in?
In Wisconsin pensions are funded, but I question the value of the funding. We all make choices in life as to what we want to do and why do people who chose to become public servants deserve something more? We live in a country that offers options and people make choices. So why do public servants deserve more than anyone else? As a taxpayer I am thrilled we are funded, but why should I pay into anyone else for their federally or state backed pension? Seriously why?
Understand, one of the few things in Wisconsin that is maybe good, is the pension fund is fully funded. Not by some magical formula, but actually funded, as opposed to many other states. Yet I still have to ask why being a public servant means you deserve something more?
Ok, Wisconsin is funded but how, with who's money? I know employees contribute but who contributed the rest?k
Taking another tac. If you don't have a pension fund then you damn well better get one. I was disabled in 1987. The guy at social security didn't argue about what was ailing me but he told me that I would get my first check in 24 months. When I got it, it was 500 bucks a month so with the 60 k I had in the bank, I began trading treasury bonds. No computer and nothing but cnbc. So my advice would be if you don't have a pension then you better hurry up and save about 4 million bucks (in todays dollars) so you won't starve to death. Either that or go to work for the government and stop bitching about how their pensions are funded. regards
That's kind of ignorant to make a statement like that and not know how they are funded.. Typical cocktail party talk about things you know nothing about.
One of the few values to living here is that the penions are funded well beyond ever other state. Actually fully funded which is one of the few values I offer to living here.