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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Pension Reform NOW
Posted by: before its too late ()
Date: November 23, 2011 04:36PM

We cannot continue to fund these pensions of public employees--it is bankrupting us.

VRS refuses to disclose information on retirees and how much their pension is.

Look at what is available to NJ taxpayers:

Retired Member
Name Year of
Birth Type of
Benefit Member Retirement
Cause Last Location Where
Pension Earned Pension Fund Retirement
Date Salary for Pension
Calculation Total of Monthly
Pension Allowance
AAGAARD, STANLEY A 1932 MEMBER Member over age 55 has chosen to take early retirement THE COLLEGE OF NEW JERSEY TPAF - Teachers' Pension and Annuity Fund 1992-02 $58,706.07 $4,313.75

AAKJER, CAROLYN D 1926 MEMBER Member has chosen deferred retirement MOUNTAINSIDE BORO BD OF ED TPAF - Teachers' Pension and Annuity Fund 1986-10 $18,000.00 $413.53

AAKJER, DIANE M 1945 MEMBER Member has chosen deferred retirement POINT PLEASANT BORO BD OF ED TPAF - Teachers' Pension and Annuity Fund 2005-04 $31,157.33 $806.38

AAKJER, GEORGE J 1923 SURVIVOR Member over age 55 has chosen to take early retirement SCOTCH PLAINS FANWOOD BD OF ED TPAF - Teachers' Pension and Annuity Fund 1981-01 $34,554.00 $2,520.48

AALDERKS, DAVID 1947 MEMBER Early retirement PERTH AMBOY BD OF ED TPAF - Teachers' Pension and Annuity Fund 2002-07 $68,484.33 $3,725.86

AALHOLM, JUNE L 1917 MEMBER Service LIVINGSTON BD OF ED TPAF - Teachers' Pension and Annuity Fund 1978-07 $21,633.33 $2,733.64

AANONSEN, MABEL 1935 MEMBER Service NORTH HUNTERDON-VOORHEES TPAF - Teachers' Pension and Annuity Fund 1999-07 $63,043.00 $2,411.91

AARANSON, MELVIN L 1933 MEMBER Service VINELAND CITY PERS - Public Employee Retirement System 1997-07 $78,928.38 $610.06

AARANSON, PHYLLIS 1936 MEMBER Member has chosen deferred retirement BURLINGTON CO BD SPCL SERVICES PERS - Public Employee Retirement System 1996-08 $14,953.33 $501.07

AAROE, DONALD H 1918 SURVIVOR Retirement type is veteran WOODBRIDGE TOWNSHIP BD OF ED PERS - Public Employee Retirement System 1983-05 $34,880.00 $1,990.57

AAROE, EMMA M 1920 MEMBER Service WOODBRIDGE TOWNSHIP BD OF ED PERS - Public Employee Retirement System 1985-08 $15,005.00 $636.73

AAROE, PAUL 1913 SURVIVOR Service TRENTON-JUDICIAL JRS - Judicial Retirement System 1983-12 $70,000.00 $2,777.71

AARON, BARBARA H 1916 MEMBER Service MIDDLETOWN TWP BD OF ED TPAF - Teachers' Pension and Annuity Fund 1983-07 $28,488.33 $1,659.50

AARON, BARTH F 1948 MEMBER Service BROOKDALE COMMUNITY COLLEGE PERS - Public Employee Retirement System 2008-08 $52,032.14 $1,012.28

AARON, BERNICE 1951 MEMBER Member over age 55 has chosen to take early retirement FORENSIC PSYCHIATRIC HOSPITAL PERS - Public Employee Retirement System 2007-07 $41,845.01 $1,734

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Re: Pension Reform NOW
Posted by: sickening ()
Date: November 23, 2011 04:42PM

These people are earning $150k per year for life!!!

Some have been retired for decades.

This is crazy.

All those people in Fairfax County earning $100k- $125K will be expecting the same payout----and we will be writing the checks

**************************************************************************


Calculation Total of Monthly
Pension Allowance

ADAMS, WILLIAM H 1941 MEMBER Service SALEM CO VOCATIONAL TECH SCHOOL TPAF - Teachers' Pension and Annuity Fund 2008-07 $208,586.94 $12,337.44

ALOIA, ROBERT J 1952 MEMBER Member over age 55 has chosen to take early retirement BERGEN CO VOCATIONAL SCHOOL TPAF - Teachers' Pension and Annuity Fund 2010-06 $240,547.83 $12,579.84

ANTONIN, FRANCES K 1945 MEMBER Service JUDICIARY JRS - Judicial Retirement System 2009-08 $165,000.00 $10,312.50

ANZALDI, ROSS R 1941 MEMBER Service JUDICIARY JRS - Judicial Retirement System 2009-09 $165,000.00 $10,312.50

BAIME, DAVID S 1942 MEMBER Service TRENTON-JUDICIAL JRS - Judicial Retirement System 2002-09 $150,000.00 $10,546.03

BARISONEK, WALTER R 1944 MEMBER Service JUDICIARY JRS - Judicial Retirement System 2009-02 $171,731.00 $10,466.44

BAUERNSCHMIDT, THOMAS 1952 MEMBER Special - applies to PFRS & SPRS only ENGLEWOOD CLIFFS BOROUGH PFRS - Police and Firemen's Retirement System 2010-06 $205,149.00 $11,967.03

BAYERSDORFER, ROGER W 1952 MEMBER Member over age 55 has chosen to take early retirement FRANKLIN LAKES BD OF ED TPAF - Teachers' Pension and Annuity Fund 2010-07 $221,033.28 $10,910.99

BEARMORE, BEVERLY J 1943 MEMBER Service OCEAN CO BOARD OF SOC SERV PERS - Public Employee Retirement System 2007-12 $165,136.85 $10,876.22

BENCIVENGO, NEIL 1948 MEMBER Service HAMILTON TWP BD OF ED (MERCER) TPAF - Teachers' Pension and Annuity Fund 2011-07 $196,968.28 $11,318.20

BLAETTLER, JOSEPH J 1962 MEMBER Special - applies to PFRS & SPRS only UNION CITY PFRS - Police and Firemen's Retirement System 2009-06 $193,984.62 $10,933.37

BOLANDI, RONALD E 1950 MEMBER Member over age 55 has chosen to take early retirement EAST WINDSOR REG SCHOOL DIST TPAF - Teachers' Pension and Annuity Fund 2010-01 $201,416.64 $10,630.31

BOLDEN, MARION A 1946 MEMBER Service NEWARK PUBLIC SCHOOLS TPAF - Teachers' Pension and Annuity Fund 2008-07 $221,666.68 $13,309.50

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Re: Pension Reform NOW
Posted by: monopoly money ()
Date: November 23, 2011 04:54PM

So, the guy at the top-Stanley Aagaard is age 79, retired in 1992 at age 60 (must be nice) and he earned $58,000 and now gets $51,000 each year!!!???

He has been collecting for nearly 20 years.

That's $1,000,000 to just one employee who earned only $58k.

You would have depleted your 401k with that kind of payout.


Where are the VA retirees---especially Fairfax folks?

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Re: Pension Reform NOW
Posted by: insanity ()
Date: November 23, 2011 04:58PM

MOONEY, JOHN J 1954 MEMBER Special - applies to PFRS & SPRS only ATLANTIC CITY PFRS - Police and Firemen's Retirement System 2010-06 $210,023.30 $12,251.35

This guy retired in 2010 at age 56.

And will collect $147,000 for life.

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Re: Pension Reform NOW
Posted by: Bill.N. ()
Date: November 23, 2011 05:10PM

How much are you willing to have YOUR retirement reduced by?

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Re: Pension Reform NOW
Posted by: fo ()
Date: November 23, 2011 06:24PM

You're comparing VA to New Jersey? You have to be stupid.

I'm a VRS retireee and let me tell you a VRS pension isn't generous by any stretch of the imagination. For every 6-figure VRS pension there are thousands that don't break $10K per year. Even in Joisey you can't look at the top pensioners, it ain't representative.

You need to stop listening to Rush. His Wall Street handlers pay him to divert attention from the REAL cause of public pension shortfalls, namely THEM. VRS lost $14B in the investment products that these fucking thieves control. If that isn't bad enough, your hero McDonnell stole $600M more from VRS so he could say he balanced the State budget without raising taxes. THEFT is why there are pension shortfalls.

I know your type, the private sector fucked you out of your pension so you don't want anybody else to have one either.

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Re: Pension Reform NOW
Posted by: Jersey? ()
Date: November 23, 2011 10:13PM

I agree with "fo". Complaining about pensions in New Jersey?? Seriously? WTF do I care about NJ pensions?

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Re: Pension Reform NOW
Posted by: this is nothing ()
Date: November 23, 2011 10:58PM

if you want to see a serious robbery check Chicago/IL

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Re: Pension Reform NOW
Posted by: zack hack ()
Date: November 23, 2011 11:10PM

I think the multiplier for Va pensions is 1.7 per year. So after 30 years you get 51% of your highest three years salary, which is usually your last three. The state is slightly better than a welfare check and many state workers qualify for food stamps. If you are looking for high pay you better look elsewhere.

.

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Re: Pension Reform NOW
Posted by: Chantilly Resident ()
Date: November 23, 2011 11:18PM

In the current federal retirement system (FERS), an employee that works for 30 years and is at full retirement age will receive approximately $30,000 a year before taxes. I do not think that is anything special. It certainly should not be a hardship for the government to fund if they are properly managing and investing the money that is contributed over the years.

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Re: Pension Reform NOW
Posted by: Capt obvious ()
Date: November 24, 2011 02:11AM

Hey retard, first of all you are comparing a disfunctional pension system that does not work against one that does not have the same issues

Second of all this is Fairfax underground not Virginia underground....as for Fairfax the employees PAY up to 10% of their salary into the pension system...Fairfax pension system is at about 90% fully funded....which you are comparing to cities and states that are very underfunded.

Don't get pissed off and jealous because you did not save up for YOUR retirement...asshat

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Re: Pension Reform NOW
Posted by: McDonnell Lies ()
Date: November 24, 2011 08:28AM

Don't forget, YOUR governor "borrowed" hundreds of millions of dollars from the pension system last year to make it look like Virginia had a balanced budget but in reality, all VA did was borrow from its employees instead of banks.

Don't be surprised when we have a Republican-manufactured pension crisis in Virginia!

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Re: Pension Reform NOW
Posted by: Source of funds ()
Date: November 24, 2011 10:43PM

I don't believe teachers statewide fund their pensions with their own money. In Fairfax County PS they pay for everyone. So all those managers at Gatehouse earning 100k, can retire after 30 years and collect about $50k for life.

Feel free to pay for someone else's retirement but don't demand that I do it.

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Re: Pension Reform NOW
Posted by: Dennis Moore ()
Date: November 25, 2011 06:51AM

"Don't get pissed off and jealous because you did not save up for YOUR retirement...asshat"

The problem is the taxpayer is being required to make up the shortfall when your pension funds underperform.

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Re: Pension Reform NOW
Posted by: KopCiller ()
Date: November 25, 2011 07:00AM

The pensions for federal civil servants are just as bad but all the taxpayers. Theirs also includes medical insurance. Or what about the military retirement system. They can stay in for 20 years, retire, and collect for the next 40 years and get cost of living increases too which will at least double their retirement from the original amount.

Time for the US government to go bankrupt to wipe all these debts off the books.

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Re: Pension Reform NOW
Posted by: CheckYourSource ()
Date: November 25, 2011 09:29AM

Chantilly Resident Wrote:
-------------------------------------------------------
> In the current federal retirement system (FERS),
> an employee that works for 30 years and is at full
> retirement age will receive approximately $30,000
> a year before taxes. I do not think that is
> anything special. It certainly should not be a
> hardship for the government to fund if they are
> properly managing and investing the money that is
> contributed over the years.


This is very misleading. FERS retirement annuity is based on years in service and also your high-3 salary. If at full retirement age, you get 1.1% of your high-3 for each year of service. Your example would be accurate only if the person's high-3 is about $90,900.

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Re: Pension Reform NOW
Posted by: pension flaws ()
Date: November 25, 2011 09:42AM

There are two major flaws in the pension system:

1. Employees don't fund it---the taxpayers do. This is absurd.

2. Retirees get a guaranteed annuity regardless of how the stock market performs. The actuarial assumption is 7.5% and if the fund doesn't hit that guesstimate then the taxpayers pick up the difference.

EVERYONE should be in a 401k.

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Re: Pension Reform NOW
Posted by: house of cards ()
Date: November 25, 2011 09:58AM

To the Members of the Board of Trustees and
Participants of the Virginia Retirement System:

PERIODS ENDING JUNE 30, 2010
1 Year 3 Years 5 Years 10 Years
Total Fund 14.1 -4.9 3.1 3.1
Intermediate Benchmark 15.3 -4.4 2.9 2.8
Long-Term Benchmark 14.2 -4.0 1.7 1.6


Ok, so all the payouts are based on this pool of assets earning about 7.5% per year and yet, even with the blowout return ending 6/30/2010 (14.1%) the 10 year return is 3.1%.

You guys go ahead and be generous WITH YOUR HARD EARNED MONEY, and pay these people into their golden years--but count me out.

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Re: Pension Reform NOW
Posted by: scariest part of it all ()
Date: November 25, 2011 10:22AM

VIRGINIA RETIREMENT SYSTEM
FINANCIAL AND STATISTICAL HIGHLIGHTS –


Activity for the Year:

Contributions $ 1,861,184,000

Investment Income $ 6,233,128,000

Retirement Benefits $ 3,035,274,000


Retirement Benefits as a Percentage of Contributions 163.1%

****************************************************************

So, VRS took in $1.86 billion in contributions and paid out $3 billion in 2010.

Fortunately, it earned $6.2 billion to meet the shortfall.

What happens when there a few consecutive years of negative returns? Anyone ever heard of a bear market?

How many years can it sustain this payout ratio?

Oh, and what happens when we finally shrink government---aka lay off people---and there are even fewer people paying into the plan?

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Re: Pension Reform NOW
Posted by: Ponzi scheme? ()
Date: November 25, 2011 10:28AM

Members/Retirees:

Ending 6/30/2010:

Active Members 342,609
Retired Members 148,496

Ending 6/30/2009:

Active Members 346,929
Retired Members 141,746


Anyone see a trend, here? Ever heard of The Baby Boomers?

In just one year, we had a drop of 4300 contributors and an increase in retirees of 6,750. Not good.

More people getting benefits and fewer paying into the system.

This can't end well.

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Re: Pension Reform NOW
Posted by: FreddyTheFeddy ()
Date: November 25, 2011 10:31AM

CheckYourSource Wrote:
-------------------------------------------------------
> Chantilly Resident Wrote:
> --------------------------------------------------
> -----
> > In the current federal retirement system
> (FERS),
> > an employee that works for 30 years and is at
> full
> > retirement age will receive approximately
> $30,000
> > a year before taxes. I do not think that is
> > anything special. It certainly should not be a
> > hardship for the government to fund if they are
> > properly managing and investing the money that
> is
> > contributed over the years.
>
>
> This is very misleading. FERS retirement annuity
> is based on years in service and also your high-3
> salary. If at full retirement age, you get 1.1%
> of your high-3 for each year of service. Your
> example would be accurate only if the person's
> high-3 is about $90,900.

There is a lot of misleading information floating around. I watched
some Congressional clown the other day go off about how high the
salaries of Federal employees in the DC area are but he forgot to
mention Locality Pay. A few weeks ago I saw yet another clown go
off the deep end and say John Boehner's staff makes an average of
$165,000 per year. I have no idea where he got those numbers but
it just aint so. John Q. Public actually believes this shit.

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Re: Pension Reform NOW
Posted by: public information-duh ()
Date: November 25, 2011 10:36AM

Displaying salaries for time period: 04/01/11 - 06/30/11

Rep. John Boehner (-Ohio, 8th)

Full salary listings Payee Name Start date End date Position Amount Notes

Joseph H. Barton (Joe) 04/01/11 06/10/11 Legislative Assistant $8,189.02
William Carl Benjamin (Billy) 04/01/11 06/30/11 Shared Employee $6,939.00
Erin M. Boyle 04/01/11 06/30/11 Staff Assistant $6,999.99
Erin M. Boyle 03/01/11 05/31/11 † Staff Assistant $848.07 Overtime
Brittany Michelle Bramell 04/01/11 06/30/11 Press Secretary $14,000.01
Mary Cleary 05/09/11 05/13/11 Paid Intern $250.00
Erin Satzger Clemons 04/01/11 06/30/11 Field Representative $8,750.01
Timothy E. Costa 06/13/11 06/17/11 Paid Intern $250.00
Kyle O. Craft 06/25/11 06/30/11 Paid Intern $250.00
Kristina E. Daujotaite 04/01/11 06/30/11 Staff Assistant $7,500.00
Ryan Day 04/01/11 06/30/11 District Director $25,664.01
Frank E. DeBrosse 04/01/11 06/30/11 Field Representative $9,212.76
Michelle Marie Donches 04/01/11 06/30/11 Shared Employee $3,750.00
Anne S. Easby-Smith 06/18/11 06/24/11 Paid Intern $250.06
Adam Jacob Eversole 04/01/11 06/30/11 Staff Assistant $7,500.00
Cory M. Fritz 04/01/11 06/30/11 Part-Time Employee $1,500.00
Michael Fulcher 06/11/11 06/30/11 Staff Assistant $3,166.67
Spencer C. Gross 06/01/11 06/10/11 Paid Intern $250.00
Emily A. Gulbransen 06/01/11 06/10/11 Staff Assistant $250.00
Emily K. Harlan 05/23/11 05/27/11 Staff Assistant $250.00
Angela D. Harrah (Angie) 04/01/11 06/30/11 Caseworker $12,118.74
Matthew Herbst 04/12/11 04/22/11 Temporary Employee $750.00
Sharon Fyffe Hughes 04/01/11 06/30/11 Staff Assistant $11,723.76
William Carl Krieger II (Mick) 04/01/11 06/30/11 Chief of Staff $40,799.01
Maura E. McGovern 04/01/11 06/30/11 Legislative Director $22,977.90
Eli H. Miller 04/01/11 06/30/11 Legislative Correspondent/Legislative Assistant $9,500.01
Emily C. Nance 05/23/11 05/27/11 Paid Intern $250.00
Brody T. Nein 04/01/11 06/30/11 Staff Assistant $7,500.00
Parker I. Novak 04/01/11 06/30/11 Staff Assistant $7,500.00
Heather E. Reed 04/01/11 06/30/11 Legislative Correspondent $9,500.01
Amanda Shipley 04/17/11 04/22/11 Staff Assistant $1,000.00
Lauren Smigelski 04/12/11 04/16/11 Staff Assistant $1,000.00
Derrick L. Walter 04/04/11 06/30/11 Legislative Assistant $10,150.00
33 results

Congressional staff salaries shown are the amount paid in the period shown. They are not annual salaries. Because bonuses may be included here and other payments may not be (most notably with aides working for multiple offices or for a political campaign committee), please use caution in extrapolating annual salaries from the figures shown here.

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Re: Pension Reform NOW
Posted by: Gman ()
Date: November 25, 2011 10:39AM

CheckYourSource Wrote:
-------------------------------------------------------
> Chantilly Resident Wrote:
> --------------------------------------------------
> -----
> > In the current federal retirement system
> (FERS),
> > an employee that works for 30 years and is at
> full
> > retirement age will receive approximately
> $30,000
> > a year before taxes. I do not think that is
> > anything special. It certainly should not be a
> > hardship for the government to fund if they are
> > properly managing and investing the money that
> is
> > contributed over the years.
>
>
> This is very misleading. FERS retirement annuity
> is based on years in service and also your high-3
> salary. If at full retirement age, you get 1.1%
> of your high-3 for each year of service. Your
> example would be accurate only if the person's
> high-3 is about $90,900.


Almost right, but its 1% for every year worked not 1.1%. That is combined with a 401k like plan and, cough, Social Security. Not exactly a golden parachute, but you shouldn't need food stamps unless the market continues to tank.

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Re: Pension Reform NOW
Posted by: Did someone yell fire? ()
Date: November 25, 2011 10:43AM

In addition, the team processed an unprecedented
surge in teacher retirements amounting to 5,371 retirement inceptions effective July 1, 2010, an
increase of 48.2% from the previous year’s 3,623 retirement applications.


Well, well, a "surge"......

I wonder what is going on here?

Maybe, just maybe, these people are figuring out that the system is going to implode so they are getting out now.

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Re: Pension Reform NOW
Posted by: betting the farm ()
Date: November 25, 2011 11:39AM

Credit Quality Breakdown
Rating % Portfolio

AAA 47.8%
AA 3.8%
A 14.1%

BBB 21.8%
BB 2.2%
B 0.9%
Below B 2.1%
NR 7.3%

Total 100%

***************************************************

Interest rates have tanked and VRS has 22% invested in bonds-which is fine.

However, they seem a bit anxious to maximize their return by taking huge credit risks.

Nearly 35% of their bonds are rated BBB or lower. Not pretty if the junk bond market has another sell-off.

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Re: Pension Reform NOW
Posted by: CheckYourSource ()
Date: November 25, 2011 12:10PM

Gman Wrote:
-------------------------------------------------------
>
> Almost right, but its 1% for every year worked not
> 1.1%. That is combined with a 401k like plan and,
> cough, Social Security. Not exactly a golden
> parachute, but you shouldn't need food stamps
> unless the market continues to tank.

That is also not entirely correct. If a gov't FERS employee retires at age 62 or older, and has at least 20 years of service, the calculation uses a rate of 1.1%.

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Re: Pension Reform NOW
Posted by: county worker ()
Date: November 25, 2011 12:38PM

insanity Wrote:
-------------------------------------------------------
> MOONEY, JOHN J 1954 MEMBER Special - applies to
> PFRS & SPRS only ATLANTIC CITY PFRS - Police and
> Firemen's Retirement System 2010-06 $210,023.30
> $12,251.35
>
> This guy retired in 2010 at age 56.
>
> And will collect $147,000 for life.


People such as myself who chose to be a public servant and earn less than the private sector are very deserving of our retirement dollars from the VRS. I currently have 30 years in but will have to work until my social security kicks in to truly retire.
I am currently earning about 20k less as a school bus technican than most diesel mechanics in the real world. The majority of VRS retiree's are getting 2 to 3k per month. New hires this year are required to pay into the system so the VRS is already not what it used to be.
The citizens of virginia made a deal with me 30 years 8 months ago and I devoted my career to public service and kept my end of the bargin so I expect the same from them.

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Re: Pension Reform NOW
Posted by: wait, what?! ()
Date: November 25, 2011 03:03PM

VA employees now contribute 5% of their salary to VRS, I expect that to go up before McDonnell leaves office, I think it will increase to 8-9%. The tricky part is how to manage employee benefits, after years with no pay increases many of the best will probably bail once the economy starts to improve. VRS is benefit that helps retention.

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Re: Pension Reform NOW
Posted by: county worker ()
Date: November 25, 2011 05:29PM

wait, what?! Wrote:
-------------------------------------------------------
> VA employees now contribute 5% of their salary to
> VRS, I expect that to go up before McDonnell
> leaves office, I think it will increase to 8-9%.
> The tricky part is how to manage employee
> benefits, after years with no pay increases many
> of the best will probably bail once the economy
> starts to improve. VRS is benefit that helps
> retention.


The 5% only applies to new hires. If they quit or get let go before they are vested (5 years) that money is returned to the employee.

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Re: Pension Reform NOW
Posted by: Not your Daddy ()
Date: November 25, 2011 07:31PM

It's kind of funny. Ask your parents about the evil pensions that these bloated government employees get and how unfair it is. They'd probably scratch their heads and give you a WTF look. You all are pissed because the defined benifit pension has gone away in most of the private sector. It used to be the norm. What happened?? Well this generation was sold a bill of goods and bought it wholeheartedly. They rejected goverment or union jobs as employment for suckers. They were told "Hey, we'll give you a hell of a match" for your 401K contributions. Free money! The stock market will keep going up, up, up! You can keep your retirement plan and switch employers every few years.....constantly bidding up the next emplyer for a bigger salery and a bigger contribution match. Well you bought it so OWN it. It's not the fault of the employed (still) union or goverment "chumps" that they chose what they chose. No match, no switching jobs every few years and no 401K retirement. Ya, ask your Dad about how pensions used to work for his entire generation. They weren't the superstar "free agents" that you set out to be but they ended up pretty alright.

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Re: Pension Reform NOW
Posted by: FYI ()
Date: November 25, 2011 08:13PM

Not your Daddy Wrote:
-------------------------------------------------------
> ... No match, no switching jobs every few years
> and no 401K retirement.

Fed. gov't at least does have matching funds into a 401K. They give 1% even if you don't put in a dime, they match 1 for 1 the first 3%, then match 0.50 for 1 for the next 2%.

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Re: Pension Reform NOW
Posted by: tgbwc ()
Date: November 25, 2011 10:25PM

KopCiller Wrote:
-------------------------------------------------------
Or what about the military
> retirement system. They can stay in for 20 years,
> retire, and collect for the next 40 years and get
> cost of living increases too which will at least
> double their retirement from the original amount.
>

They really do have a sweet deal. Retire at age 40, collect and take another job outside the military building another pension.

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Re: Pension Reform NOW
Posted by: wait, what?! ()
Date: November 25, 2011 11:03PM

county worker Wrote:
-------------------------------------------------------
>
> The 5% only applies to new hires. If they quit or
> get let go before they are vested (5 years) that
> money is returned to the employee.


As of July 1, 2011 it applies to all, not just new hires.

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Re: Pension Reform NOW
Posted by: wait, what?! ()
Date: November 25, 2011 11:10PM

tgbwc Wrote:
-------------------------------------------------------
> KopCiller Wrote:
> --------------------------------------------------
> -----
> Or what about the military
> > retirement system. They can stay in for 20
> years,
> > retire, and collect for the next 40 years and
> get
> > cost of living increases too which will at
> least
> > double their retirement from the original
> amount.
> >
>
> They really do have a sweet deal. Retire at age
> 40, collect and take another job outside the
> military building another pension.

One can enlist at 17-18, retire at 37-38. Go for it, enlist. With the upcoming cutbacks, soldiers will be getting the boot before 20 years, with retention control points. But that's those surviving IED attacks in Trashcanistan.

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Re: Pension Reform NOW
Posted by: keller ()
Date: November 26, 2011 07:15AM

State employer pensions are deferred compensation. We earn our pension working to provide services to you. We are your neighbors, your family members, members of your congregation. The idea that compensation for state employees is bankrupting us is laughable. It also displays a mind numbing disegard for reality.

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Re: Pension Reform NOW
Posted by: Capt obvious ()
Date: November 26, 2011 07:42AM

tgbwc Wrote:
-------------------------------------------------------
> KopCiller Wrote:
> --------------------------------------------------
> -----
> Or what about the military
> > retirement system. They can stay in for 20
> years,
> > retire, and collect for the next 40 years and
> get
> > cost of living increases too which will at
> least
> > double their retirement from the original
> amount.
> >
>
> They really do have a sweet deal. Retire at age
> 40, collect and take another job outside the
> military building another pension.

Yeah a really sweet deal, like getting shot at, possibility of getting blown up real good, living in shitholes, protecting YOUR freedom....want to talk about "pensions that rape the taxpayer" look at your congressmen, senators, politicians who "work" 4 years, have excellent free healthcare and check for life

Douchebags

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Re: Pension Reform NOW
Posted by: county worker ()
Date: November 26, 2011 10:21AM

wait, what?! Wrote:
-------------------------------------------------------
> county worker Wrote:
> --------------------------------------------------
> -----
> >
> > The 5% only applies to new hires. If they quit
> or
> > get let go before they are vested (5 years)
> that
> > money is returned to the employee.
>
>
> As of July 1, 2011 it applies to all, not just new
> hires.


VRS 1 members in fairfax county do not pay the 5%
VRS 2 members do pay the 5%



quote from the VRS homepage,

"For school divisions and political subdivision employees, the employee or employer may contribute 5 percent of the employee’s compensation each month to his or her member contribution account depending on the employer’s election."



The county pays it for us as long as we were hired before july 1 2010. I could just imagine the uproar if after several years with little or no pay increase they tried to throw that shit on us too! The county would shut down.

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Re: Pension Reform NOW
Posted by: Joe B. ()
Date: November 26, 2011 10:29AM

fo................FU!!!!!!!!!!!!!!!!!

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Re: Pension Reform NOW
Posted by: wait, wut? ()
Date: November 26, 2011 07:10PM

county worker Wrote:
----------------------------------------------------
>
> The county pays it for us as long as we were hired
> before july 1 2010. I could just imagine the
> uproar if after several years with little or no
> pay increase they tried to throw that shit on us
> too! The county would shut down.

My error, missed your 'county worker' point. Commonwealth employees who were not contributing 5% to VRS were required to start paying 5% as of July 1, 2011. The contribution was offset with a onetime corresponding pay increase. McDonnell created his 'surplus' on the back of VRS, funding VRS is now on his to-do list now that Republicans have full control. Not sure if the county will be able to cover future contribution increases, we'll see.

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Re: Pension Reform NOW
Posted by: Just FCPS ()
Date: November 27, 2011 12:31AM

I believe FCPS was granted a VRS holiday of about $100 million for two years. They get 10 years to pay it back....with 7 percent interest tacked on. Thankfully FCPS set the fund aside, but the interest payments are going to be a budget buster.

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Re: Pension Reform NOW
Posted by: Patton ()
Date: November 28, 2011 06:47PM

Capt,
You're missing the point. The guys who collect the retirement are not the guys getting shot at and blown up.

BTW, Afghanistan and Iraq are not a threat to anyone's freedom or U.S. national security.

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Re: Pension Reform NOW
Posted by: open eyez ()
Date: November 28, 2011 06:55PM

keller Wrote:
-------------------------------------------------------
> State employer pensions are deferred compensation.
> We earn our pension working to provide services
> to you. We are your neighbors, your family
> members, members of your congregation. The idea
> that compensation for state employees is
> bankrupting us is laughable. It also displays a
> mind numbing disegard for reality.


Hold on a sec Keller....I am very familiar with pension management. The current problem in the U is overly optimistic pension projections: incredibly high and unrealistic estimates for returns. So, when the returns don't materialize, the state/muni can do only one of two things: 1) cut back on current and future benefits, or 2) kick then can down the road to the next administration. Choice #2 is very easy. You didn't EARN those benefits - they were promised to you. In the private sector, many corporations go out of business - and so too goes the pensions they offered. Same in the private sector. A pension is NOT a deferred compensation - it is a BENEFIT. Would you opt to earn a pension, or, take all the money you earned up front? Answer wisely.

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Re: Pension Reform NOW
Posted by: buttplug ()
Date: November 28, 2011 07:02PM

Patton Wrote:
-------------------------------------------------------
> BTW, Afghanistan and Iraq are not a threat to
> anyone's freedom or U.S. national security.


But they're threats to corporate interests. Or they possess something the corporate thieves want.

Two time Medal of Honor winner Major General Smedley Butler, USMC said it best 75 years ago upon his retirement:

"I spent 33 years and four months in active military service and during that period I spent most of my time as a high class thug for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902–1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents."

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