Thanks for yer service. However I'd say be thankful yer getting a pension. I've worked for two employers who had traditional pension plans which were dumped a few years into my employment. A whole bunch of us are also paying a small pile of cash into social security and will be lucky to see anything when the time comes. My only saving grace was the smarts to start investing heavily in a 401k 20 plus years ago and the Roth IRA when it first came about 12 - 13 years ago...
Military pension cuts
- Thread starter EODRay
- Start date
EODRay
Active member
I want to thank everyone for the support. It really does mean a lot! I was just having myself a little pity party for a moment there. I'll strap my boots on and keep doing what I do. I truly do believe in what I do. I have always said that it's not about the money. I chose not to become an officer (would have made more) because I wanted to stay with the Soldiers as long as I could. It just stung a little more than I would have liked.
SFC B
Well-known member
TBB, while we have a pension there are a couple of VERY big differences. First, we aren't just doing a "job" down the road from our house. We have entered into a covenant with the Nation. We agree to willingly put ourselves in harm's way in foriegn lands in exchange for a certain set of agreed upon compensations. The penson is and was a HUGE factor in keeping many of us long term. Now, after so many of us have fulfilled our end of the bargain and have lost lots of friends we are being told that the agreement is "too much" by a bunch of useless oxygen thieves that make HUGE $$ (out of OUR taxes) in Washington. What hypocrisy!! Next, unlike many other pension plans we get absolutely NO value/$$ from the government unless we reach full retirement. Soooo if one is now sitting at, say, 12 years and the game changes.....if you leave you ZERO. Some of us do have other investments but that isn't the issue. The issue is whether our country has ANY HONOR LEFT! BTW, all of us are sending$$ to Social Security and they are currently trying to attack our health benefits as well.
Did anyone think the government was going to stop with cops, firemen, postal workers and teachers? The goal of Wall Street is to destroy all defined benefit programs, and since Wall Street controls the government this is the result you get.
Social Security is next, no defined benefit program will survive.
Like a previous poster said, stop voting for same old same old.
Social Security is next, no defined benefit program will survive.
Like a previous poster said, stop voting for same old same old.
jryoung
Well-known member
Umm, pension programs are some of the largest institution investors in the world. Wall Street loves that money. Wall Street needs that money.
I now, the rising costs of what those programs need to pay for, causing them to be underfunded is the issue I think you're trying to raise.
They love the money true, but they want it in the form of 401k's not defined benefit programs. If the voters keep selecting the same people from the same parties, defined benefit programs will not see another generation.
The funding for well structured programs is not the issue, the way the government accounts for the programs is the issue.
Take the postal service for example, they are required to have the full value of an employees retirement on the books 25 years before that employee retires. It would be like asking everyone on the forum to pay their mortgage in full tomorrow. How many people could do that? Its a clever way to kill the programs.
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Topgun 30-06
Active member
I do appreciate the situation you guys are discussing and I did three years in the Army Vet Corp back when Viet Nam was going hot and heavy and decided that was enough even though I was offered an E6 promotion to reup for three years. One thing that needs to be stressed more is that many in this country are losing their jobs, while many other retired people like myself are losing all kinds of benefits from lessening or losing their pensions, health benefits, or are being forced to pay much higher premiums than was agreed to when they were working. Many in these categories are not going to have any sympathy for service personnel when the retirement program, unless it has changed and I'm unaware of it, is 20 years of service with no minimum age requirement. A lot of folks will look at that alone and say that is the only reason you went in whether that's true or not, so too bad if you get some cuts and have to work another job when you get out when many civilians are now having to work to 65 or later in their life and will not get the benefits the military receives when they retire. I don't feel that way, but that is the reality you're facing when a large percentage of the population probably does feel that way. What they really need to look at is the ridiculous benefits that people in Congress receive while in their position and more so when they leave. You sure don't see them cutting their benefits, going under the Obamacare Plan, etc. and as BuzzH stated, about 95% of those SOBs need to be put out on the street. I would add to that and say that their benefits should be also be cut by at least 50% or more and then we might get somewhere in this country.
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PJ0311
Member
Or take the time to learn even a little about the person they're voting for or against. I understand that not everyone is into politics but after seeing people die to give Iraqis a chance to vote it makes me sick inside to come home and hear people say they only vote republican or democrat or, even worse, the ones who I've heard say they don't care about voting period.
dustinf
Active member
I'm pretty sure that the Postal service pension is extremely over funded.
My carpenter's defined benefit pension is constantly bouncing from funded to under funded, just depends on where the stock market is.
no incumbents!!! time to clean house.
theat
Well-known member
There has been a bill (HR 3788) introduced in the house to restore veterans retirement payments. I have not been particularly pleased with Steve Daines work in Congress so far, but I fully support this bill of his.
Check this link out.
http://missoulian.com/news/state-an...cle_dce69fe6-6c50-11e3-a138-0019bb2963f4.html
Check this link out.
http://missoulian.com/news/state-an...cle_dce69fe6-6c50-11e3-a138-0019bb2963f4.html
B
big28hunter
Guest
This regime in DC will watch their wallets and bank accounts grow, give large amounts of money to foreigners who hate us, tax the middle class into poverty, over tax the successful to stop economic growth, and give to illegal aliens before our Vets! Nothing will be done! Because we have almost 50% of this country with their hand out supporting these idiots in DC. As long as they keep their voters happy and them in power we are all going to pay in some form. They are all trash even the dinosaur conservatives. The lesser of two evils IMO. I feel so sorry for this country and especially the men & woman that shed their blood, sweat, and tears for it and yes many their life. Semper Fi and GOD bless America!
Calif. Hunter
Active member
Somehow I just can't muster up the same level of sympathy for the civil servants as I do for the military folks. Listening to my brother talk about all the comp time, paid holidays, vacation accrual, etc he receives from the US F&W along with his retirement only makes me wish I had been smart enough to get on the gravy train.
DreaminofMT6X6s
Member
- Joined
- Sep 29, 2010
- Messages
- 800
There's a good chance the pension cuts will never materialize. In the end it really only impacts us from the time we retire till age 62 where it's restored to where it should have been anyway. However you slice it, Congress is going to right this wrong before long.
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