Marine Patrol Seeking Recruits - Summer 2013

[HomeWood]

This is what I will be looking into when I retire around 49 years old after about 28 years of law enforcement. Only about 16 years to go! A seasonal summer gig like this would be perfect when we move back up. This is my stay on topic point.

Now, us lowly civil servants know we won't become mega millionaires with our public sector jobs, but there is a trade off for a young age retirement and life long pensions. I contribute to my pension with my own pay into the state system. I'm not sure exactly how it works, but our pension system is tied into the stock market and there is billions in there. I'm not sure how much if any tax dollars are contributed to it, but from what I understand it is largely a self sustaining system. I do know that if the market takes a big enough hit, pensions could be in trouble. There was talk of this within the last several years.

Then there is the city supplement retirement check that is separate from the state pension check. That supplement ends when I start to collect social security. I guess the city may use tax dollars for that supplement program.

I also have a city 401k that I contribute to and I have a Roth IRA. I'm thinking beyond just the pension.

This is the deal I signed up for and I expect it to be fulfilled. It's not about having an entitlement mentality. Welfare moochers have an entitlement mentality. It's about receiving the pay and benefits I was promised for my years of service. I will have earned it and I won't feel guilty for receiving it.

I'm in a right to work state too, so the union debate to us here is a moot point. NC state law prohibits public sector employees from collective bargaining.

[Blue Thunder]

Originally Posted by HomeWood

This is what I will be looking into when I retire around 49 years old after about 28 years of law enforcement. Only about 16 years to go! A seasonal summer gig like this would be perfect when we move back up. This is my stay on topic point.

Now, us lowly civil servants know we won't become mega millionaires with our public sector jobs, but there is a trade off for a young age retirement and life long pensions. I contribute to my pension with my own pay into the state system. I'm not sure exactly how it works, but our pension system is tied into the stock market and there is billions in there. I'm not sure how much if any tax dollars are contributed to it, but from what I understand it is largely a self sustaining system. I do know that if the market takes a big enough hit, pensions could be in trouble. There was talk of this within the last several years.

Then there is the city supplement retirement check that is separate from the state pension check. That supplement ends when I start to collect social security. I guess the city may use tax dollars for that supplement program.

I also have a city 401k that I contribute to and I have a Roth IRA. I'm thinking beyond just the pension.

This is the deal I signed up for and I expect it to be fulfilled. It's not about having an entitlement mentality. Welfare moochers have an entitlement mentality. It's about receiving the pay and benefits I was promised for my years of service. I will have earned it and I won't feel guilty for receiving it.

I'm in a right to work state too, so the union debate to us here is a moot point. NC state law prohibits public sector employees from collective bargaining.

You may not be eligible for SS due to a Federal rule called the WEP, Windfall Elimination Provision. As a government employee you are contributing to your retirement system so therefore you are not contributing to SS. If I'm doing the math correctly you started in your LE career at a very young age. Chances are you didn't work at another non government job for ten years (40 quarters) and pay into SS. So unless you retire and then get a job where you will be paying into SS for at least ten years its more than likely you won't be collecting much, if any SS.

[secondcurve]

Originally Posted by HomeWood

This is what I will be looking into when I retire around 49 years old after about 28 years of law enforcement. Only about 16 years to go! A seasonal summer gig like this would be perfect when we move back up. This is my stay on topic point.

Now, us lowly civil servants know we won't become mega millionaires with our public sector jobs, but there is a trade off for a young age retirement and life long pensions. I contribute to my pension with my own pay into the state system. I'm not sure exactly how it works, but our pension system is tied into the stock market and there is billions in there. I'm not sure how much if any tax dollars are contributed to it, but from what I understand it is largely a self sustaining system. I do know that if the market takes a big enough hit, pensions could be in trouble. There was talk of this within the last several years.

Then there is the city supplement retirement check that is separate from the state pension check. That supplement ends when I start to collect social security. I guess the city may use tax dollars for that supplement program.

I also have a city 401k that I contribute to and I have a Roth IRA. I'm thinking beyond just the pension.

This is the deal I signed up for and I expect it to be fulfilled. It's not about having an entitlement mentality. Welfare moochers have an entitlement mentality. It's about receiving the pay and benefits I was promised for my years of service. I will have earned it and I won't feel guilty for receiving it.

I'm in a right to work state too, so the union debate to us here is a moot point. NC state law prohibits public sector employees from collective bargaining.

Looks like your the best house in a bad neighborhood according to the below excerpt from a September 2012 article I just found on the web:

"The percentage of unfunded liability varies from state to state. North Carolina has the lowest at 37.1 percent (if having a third of your pension debt unfunded can truly be called low). Illinois has the highest at 71.8 percent. Something else to keep in mind when thinking about all those raises the teachers in Chicago just received."

Everyone out there should be focused on these unfunded state pensions because ultimately, the US government will be asked to bail out the state systems since these pensions are insolvent. The problem is the US government is insolvent, too.

While I agree that it is difficult not to receive a pension that was promised that is exactly the way it works in the private sector. Case in point: I was working for a triple A rated, large multinational several years back. In june it announced its pension would be terminated in December! That was it. End of story. I didn't whine but I did leave and join another organization for a better deal to help me make up the shortfall. That is the way it works in the real world.

[Belmont Resident]

Originally Posted by secondcurve

Looks like your the best house in a bad neighborhood according to the below excerpt from a September 2012 article I just found on the web:

"The percentage of unfunded liability varies from state to state. North Carolina has the lowest at 37.1 percent (if having a third of your pension debt unfunded can truly be called low). Illinois has the highest at 71.8 percent. Something else to keep in mind when thinking about all those raises the teachers in Chicago just received."

Everyone out there should be focused on these unfunded state pensions because ultimately, the US government will be asked to bail out the state systems since these pensions are insolvent. The problem is the US government is insolvent, too.

While I agree that it is difficult not to receive a pension that was promised that is exactly the way it works in the private sector. Case in point: I was working for a triple A rated, large multinational several years back. In june it announced its pension would be terminated in December! That was it. End of story. I didn't whine but I did leave and join another organization for a better deal to help me make up the shortfall. That is the way it works in the real world.

Good points, and lets hope the government stays away for bailouts and lets things work out the way they should have a long time ago.
Like the housing market, no one forced many of the homeowners to sign on the doted line full well knowing they were putting themselves in a position to fail should something change.
It is easy to cast blame on the banks but in the end the decision is ours on how far our income can be stretched.

[TiltonBB]

What about the expense to the taxpayer that comes with replacing the worker with 20 years experience with a new person?

The new hire in a police or fire department must attend an academy and the cost of their salary as well as their training while at the academy is paid with our tax dollars. The new hire will be less experienced and make more mistakes than someone with 20 years experience. Public sector workers that retire in their early 40's are costing the taxpayers a fortune.

What about retiree benefits? I know of some municipal jobs with early retirement that provide medical and dental benefits to the retiree and their family for the rest of their lives.

Early retirement of public sector workers is a scam on the taxpayers and it continues so that the politicians can get the endorsement and support of the public sector unions.

I agree that it has been a negotiated benefit but maybe that says more about the politicans that people vote for than the workers taking advantage of the opportunity!

[Lakesrider]

Is this the boating forum, or the payroll forum?

[Senter Cove Guy]

This thread has gone from fun to pathetic.

[NightWing]

Back in 1991, the starting rate for MP Officers was $7.87/hr.