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Harold Brink posted on 3/24/2010 7:06:00 PM
For the record, I did not contribute to my corporate pension fund.
Mike posted on 3/24/2010 4:03:00 PM
I've been a state employee for over 20 years. All I hear is how much the state will have to put in to catch up on its pension obligations. Why hasn't anyone looked back to see how state government significantly underfunded the retirement system in the past? If you go to the SERS site, they have a graph depicting how much the Commonwealth saved over the years which I believe is well over 1 billion. At one point it appears that the Commonwealth was putting in $0.00 compared to the 6.25 % employees were contributing. I see the current situation as a result of the "pay me now" or "pay me later" attitude of those in charge. Well, it's now "pay me later" and everyone is fired up about it.
Nathan Benefield posted on 2/23/2010 9:51:00 AM
Mike,
Nowhere does it state that taxpayers pay 100% of state employee pension, this simply shows the expected share of taxpayer ("employer") contributions to the plans.
Mike posted on 2/23/2010 9:30:00 AM
The article is wrong when it comes to the funding of the SERS. State employees contribute 5 to 6.25% of their salaries towards their pension. To state that taxpayers pay 100% of state employees pension is blatantly false.
Nathan Benefield posted on 1/31/2010 4:09:00 PM
The multiplier for most employees is 2.5% (3% for legislators) times years of service.
For 23 years, 8 months, they would get 59% of their average pay for their last three years (plus Social Security).
Harold Brink posted on 1/31/2010 3:03:00 PM
Since April 2006 I have received a corporation pension of $340.04 a month (no increase ever) for: 23 years 8 months service, a combination of service and
age of 85, and an age at start of pension payments of 61 years 4 months.
Tell me please, what will a PA state employee or PA public school teacher
get under these conditions?
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