Retiree John Cussins is among those who will see his benefits slashed by the California Public Employees Retirement System….(read more)
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Coorks
Yes its not good to work for an employer anymore, its best the start your own business and higher your own workers, open your own investment account to do your own trades cut out all the middle man..
Makes one feel how secure your investment in US treasures,bills and bonds are with the US GOVERNMENT DEBT IN THE TRILLIANS OF DOLLARS OR IS THIS ANOTHER MEANS OF CONFISCATED FUNDS THE FED HAS PLANNED FOR. REMEMBER SOCIAL SECURITY IS SCHEDULED TO HAVE SHORTFALLS GOING BROKE BUT WELFARE IS NOT GOING UNDERFUNDED AND NO MENTION OF IT GOING. BROKE.LETS BRANDON AND THE REST OF THE DEMOCRATIC PARTY THIEVES
are you able to stop contributions into calpers retirement account?
This is a scare tactic by the republicans to bust unions and end pension systems. They want employees on defund contribution packages. They are talking about 4 people out of 1.8million. The system is fine the city was the problem here. Stockton and Vallejo were bankrupt by the house if crisis not pension systems. The housing crisis was cause by the banks.
He worked for 22 years in government and retired and I worked as a self employed for 30 years and still working.
Legalized theft as they invest the funds and have no upsides when 'they' keep dipping in.
California is also bankrupt. Biden & Harris will help! HoHoHo & Santa Clause will be back in a few months.
Keep voting for the Dems. Governor, Mayor & Teacher's Union. Keep voting for the Dems & expect different outcomes.
I’m a calpers retiree. The whole thing is gonna implode. It’s just a matter of time.
California uses zero common sense in finance and in budgeting.
Math doesn’t count. Shenanigans and scheming is all that counts.
When calpers implodes
The governor will blame TRUMP
California has been run by Democrats since 1970 quite often the Dems had a super majority since 1970. California is a single party state.
This is why California has such high taxes. It's called greedy unions and entitled boomers. Now this generation has to suffer as a result.
All 401ks pension funds should be made illegal. They are not what you think. Look at his face. Take out your phone and download a roth IRA calculator. Take age 20. To age 59. With 100 dollars amonth. This would be in your own account. It would travel with you from job to job. That would be freedom. Vanguard Fidelity and Shwab would be the only Roth managers.
How sad. CalPers and the city of Loyalton created expectations and through greed, mismanagement, outright deceit in many cases and callousness, both CalPers and their members cities are guilty of behavior that borders on the criminal. The need for reform is immediate. The grim reaper is going to come calling and the consequences are going to be catastrophic and here we sit fiddling while Rome burns.
City and unions over promised. Not realistic to get your salary for decades after retirement. Switch to 403 b or 401 k for younger employees is the only option. I am 63 and have been self employed for a lifetime. No pension or health retirement benefits. Have saved my money all along. Knowing that there is no one to blame other myself. It is your funds, it is taxpayers who pay.
Happens in the private sector as well. Hard to feel sorry for gov workers tht sham around for 30 yrs.
What’s to stop this from spreading .
You need a deferred comp account and start your own retirement fund.
The shame of it all is that we as public employees have paid into this plan monthly and many of the people who think they were just getting a free ride have no idea that we have money taken out of our paychecks every month for our retirement. Those that have been in private sector jobs have no concept of we accepted these jobs based on the lower pay as opposed to wet the private sector paid. Every year there is a comparison done for the type of work that we do versus the private sector and a comparison analysis in terms of pay is always analyzed.
California helping others but not there own. California is a prime example of what not to do. That being said, Its making my home value go up in Texas because they are moving here in droves. California went from a shining beacon to a state that looks like Venezuela. Idiots
California = Crap hole.
I been working all my life i'll be getting SS when i'm 67 which 1700 a month thats all i get
Socialism is showing it's true colors, never works.
Finally they're running out of other people's money (Socialism)
City manger and city council and Drictor finance .was making desion.
Meet the crybaby bitches who didn't take any responsibility for retirement planning because they felt entitled to taxpayer money for life
2 Words: Ponzi Scheme
2008 the entire bank system almost collapses they congress and senate one week or great depression the treasury secarty and federal resver chairman.
CalPERS need to have some over sight by federal security exchange and federal trade commission consumer protection act.
Ask your u.s. senator and congress for federal invedtgation or hiring in congress on callers health and longe term care .
CalPERS long term heal th care scene into 1.2 billion law suit .the members are fighting back.
EXTREME RETIREMENT BENEFITS IN SOUTHERN CALIFORNIA FOR FIREMEN AND COPS!!!!!!! extreme injustice to normal people!!!!!!
I hope they all get nothing. They don't give a crap about us residents. They're very leaching off us citizens. Loooosers!!!!
Is he still a democrat?