tag:blogger.com,1999:blog-2447438783001404385.post4020699468529176859..comments2024-03-28T12:47:52.089-05:00Comments on Jackson Jambalaya: Pay now or pay later? What happens if you can't pay? Kingfishhttp://www.blogger.com/profile/06184990110961727404noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-2447438783001404385.post-58594277941595788582014-03-21T17:25:54.856-05:002014-03-21T17:25:54.856-05:00Why provide links to the obvious. This whole threa...Why provide links to the obvious. This whole thread is based on the link that proves the point. How many more links do you catterhoulas need? There is no comparison with belly-up, broke-ass union pension plans and the Mississippi PERS system. Regardless of your desire to see it fail. <br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-54868045324785658532014-03-21T13:43:36.339-05:002014-03-21T13:43:36.339-05:00Hey, 10:43.....for which municipal, county, or sta...Hey, 10:43.....for which municipal, county, or state agency do you "work"? <br /><br />And you accumulate 20 DAYS a month; i.e. "...a months vacation...a month..."??? <br /><br />Do tell.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-36544770912032770372014-03-21T00:08:47.025-05:002014-03-21T00:08:47.025-05:00Hey 8:55, your rant has just made PERS fully funde...Hey 8:55, your rant has just made PERS fully funded. Care to have a few more drinks and rant the deficit away? Some people.....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-66156512980254851162014-03-20T23:39:25.530-05:002014-03-20T23:39:25.530-05:008:55. Might wish to read the PERS report and how s...8:55. Might wish to read the PERS report and how short it presently is after 4 years of double digit returns before dumping on someone. It's true union pensions may be faring worse than non unions (you post no link to anything to support such), but 8:34's comments about PERS as a solvent defined benefit plan are on point whether you like it or not. Being snarky or profane doesn't change math. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-53226096013384669322014-03-20T22:43:37.610-05:002014-03-20T22:43:37.610-05:00I am a "working" contributor to p.e.r.s....I am a "working" contributor to p.e.r.s.. Municipal, County & State employees don't do a lick of work. We spend most of the day on personal sh##. We use public vehicles, equipment, supplies and fuel for ourselves. We know to never to report fraud or misconduct. It goes all the way up and in porportion to the office level. We get a months vacation a sick day a month and yes it accumulates. We kiss a## and sick or vacation is rarely deducted. Get ready to bail p.e.r.s. out of insolvency. If all public employees vanished no one would notice. Hey dupes, bid it all out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-76554519157228579202014-03-20T20:55:35.817-05:002014-03-20T20:55:35.817-05:00It's not 'irrelevant' at all, 8:34. Al...It's not 'irrelevant' at all, 8:34. All of he comparators Kingfish presents are union plans. Not sure how you view that as irrelevant. Aside from your haughty, bullshit, misquided, pretend-analysis of the market (which falls flat), there is absolutely no comparison between Mississippi PERS and the hundreds of union pension plans that are going belly-up in the ditch. Stick that up your volatility QE. Answering Extreme Arrogancenoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-88890062437858711302014-03-20T20:39:08.638-05:002014-03-20T20:39:08.638-05:00Mississippi hasn't issued pension bonds like I...Mississippi hasn't issued pension bonds like IL or other states, but don't thing PERS is fiscally sound. It is underfunded as well, and the taxpayers of MS will have to cover the shortfall. "Which taxpayers?" you ask. Simple.....those not receiving retirement income of any form, as it is exempt from state income tax. Also any property owner. The money to fund these benefits will have to come from someone or the benefits will have to be reduced. Which option do you think the legislature will choose? My bet is on the former.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-3906177706453971452014-03-20T20:34:17.365-05:002014-03-20T20:34:17.365-05:00The state employees here are still largely arguing...The state employees here are still largely arguing about the position of the deck chairs on the Titanic. Whether the municipal jobs are unionized or not is irrelevant. Retirement ages for existing working are too low and, coupled with increased longevity, means benefit payments are paid for far longer than the fund can support. Any double-digit gains for the last four years are also coming from an asset allocation oriented towards equities, which means extreme volatility once QE can no longer inflate the stock market bubble. Pensions were traditionally invested in corporate bonds and real estate holdings. This will not end well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-75512731208060822882014-03-20T18:17:38.376-05:002014-03-20T18:17:38.376-05:00PERS employees can opt to continue with a state pl...PERS employees can opt to continue with a state plan by paying the exorbitant premium; however, that plan will NOT cover prescription drugs. If you knuckleheads will just wait and retire at 65 you'll have medicare for whatever it's worth, but you'll have to buy a supplemental plus a drug plan, which is what I do. <br /><br />The plans that are devastatingly broke are union employee retirement plans, which is not at all representative of Mississippi PERS.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-34237853741978288662014-03-20T16:35:20.982-05:002014-03-20T16:35:20.982-05:00I'm in the same boat with you, 9:59.
60 years ...I'm in the same boat with you, 9:59.<br />60 years of age with over 25 years service. Will continue working as long as possible because insurance will take BIG chunk out of retirement check.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-55483338706581856282014-03-20T12:46:25.274-05:002014-03-20T12:46:25.274-05:00Kingfish, How can you educate a public that are li...<a rel="nofollow"><b>Kingfish, How can you educate a public that are living on 3rd generation public handouts & assistances?<br /><br />Ah,goes back to LBJ and the Great Society.</b></a>Johnny Weirnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-84752444921630029542014-03-20T12:23:15.588-05:002014-03-20T12:23:15.588-05:00Educate the public? Better would be to educate th...Educate the public? Better would be to educate the damn state employees who are paying into an underfunded mess. Instead of hollering for a raise they should raising holy Hell with the numbskulls in the Legislature about the teetering financial status of their retirement plan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-1903420042903898122014-03-20T12:18:43.697-05:002014-03-20T12:18:43.697-05:00David Stockman - This Financial Collapse Will Be C... <i>David Stockman - This Financial Collapse Will Be Catastrophic-----<br /><br /><br />The Fed's massive trading room is a weapon of financial mass destruction. That’s the point that people need to understand. The people running the Fed today have no clue of the danger that they are creating through this massive market intervention and manipulation....The whole market is not trading on any kind of fundamentals. It’s trading entirely on the word clouds being emitted by the Fed speakers and the cash which is being massively injected into the market each day. <br />They have totally disabled and corrupted the heart of our financial system. They have turned everyone in the financial markets into Fed-followers and front-runners. It is an extremely foolish and destructive policy, and yet it is now the mainstream view that all of this is for the good. It’s a very crazy time when you really think about where this is leading.”</i><br /><br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-32350108971432573192014-03-20T12:10:52.914-05:002014-03-20T12:10:52.914-05:00About the only positive note in this article is t...About the only positive note in this article is the double digit gains that the existing funds have posted. Watch out if the stock market takes a plunge. Heard just this morning that David Stockman has just warned that the fed has painted us in a corner with all the Quantitative Easing that has been keeping this economy/market afloat. I havent read his entire article but it appears that he believes we have reached a critical stage with regards to QE practices.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-55015731798474877442014-03-20T11:36:11.802-05:002014-03-20T11:36:11.802-05:00Or states. I'm not implying this is the case ...Or states. I'm not implying this is the case in Mississippi. However, I think such articles are worthy in educating the public. Kingfishhttps://www.blogger.com/profile/06184990110961727404noreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-64738649957821976302014-03-20T09:59:54.873-05:002014-03-20T09:59:54.873-05:00I have worked 30 years + with the state but cannot...I have worked 30 years + with the state but cannot retire due to my health ins. costing over $1200 dollars a month when I retire. This is what is keeping a lot of folks on the State payroll.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-27988909968584447282014-03-20T08:49:00.944-05:002014-03-20T08:49:00.944-05:00Indepth exploration of this phenomenon will reveal...Indepth exploration of this phenomenon will reveal that the 'pensions' you address are typically going to be large municipalities with unionized workforces. Additionally, most of those pensions include enormous payouts including continued health insurance costs. <br /><br />Mississippi has no unionized public employees and no retirement system that covers such things as insurance, medical and drug coverage all the way to the grave. The only ones who have that are unions and congress. Smoke Detectornoreply@blogger.com