Report: Pension system needs overhaul

Aug 11, 2013 | Posted by: roboblogger | Full story: Lowell Sun

The Middlesex and Worcester county pension systems and the city of Fitchburg were each given a D rating and the city of Lowell received a C on a new ratings website by the Pioneer Institute, a research group that says it wants to bring new transparency and accountability to the state's pension systems.

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61 - 69 of 69 Comments Last updated Oct 15, 2013
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Lynch

Fitchburg, MA

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#61
Oct 15, 2013
 

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In the past 12 years Western Union has exploded concerning the amount of US dollars leaving our economy. It got so insane that Bank of America opened up branches in Mexico so they could get in on the exchange fees.

Before this increase in Western Union our country never experienced such vacuuming of our nations treasures.

This finger pointing at Americas poor is more than insulting. The majority of the Billions Obama borrowed from the Chinese went to banks, pension debt, current police and fire and many infrastructure projects within America.

President Obama on day borrowed in order to keep America from failing.

If the Republicans continue to sink this economy then I hope it fails 100% so everyone feels it. Your savings will be worthless, all your investments will sink.

Then we will find out who knows how to survive! Historically the poor has survived. Your insults directed at our nations poor is very distasteful.

The 4 trillion being held by Americas wealthy hasn't moved as it has sat there since day one of the Obama administration.

The Republicans will sink this economy as re-distribution of wealth will be automatic as only those who work hard will get paid.

You shouldn't insult hard working Americans because they receive very low wages. Leave them alone. Yes they do not take vacations, no they do not have new cars, nor houses, boats or any toys but they are not complaining as they are enjoying what God gave them. Unlike most wealthy who are super greedy and want more toys and more toys.

Keep your toys just leave the rest of America alone, move to Dubai and enjoy the wealthy oasis who cares!!!

For a wealthy person to EVER criticize citizens receiving food stamps is just pathetic!!!
Adam Smith

United States

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#62
Oct 15, 2013
 

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No one minds helping the poor, Lynch. But the last thing we need is ignorant crackpot economic analysis from a habitual offender who has naver worked and continues to be a drain on the public treasury.
Lynch Too

Leominster, MA

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#63
Oct 15, 2013
 

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Take for instance Market Basket. The owners earn more than the bagboys????? If they both earned the same it would be more fair and help the economy. It's just wrong.
Lynch

Fitchburg, MA

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#64
Oct 15, 2013
 

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Lynch Too wrote:
Take for instance Market Basket. The owners earn more than the bagboys????? If they both earned the same it would be more fair and help the economy. It's just wrong.
Just think Genius, if the debt ceiling isn't passed then the baggers and the managers will be sent home with no paycheck!!!!

Your answers sound quick but they are not feasible.

And let me ask. If a person works for the city for say 30 years, pays 11% for pension cost. How does this 11% pay for 30 years of pension at 75% of that workers wage plus full boat health care for husband and wife??
Lynch

Fitchburg, MA

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#65
Oct 15, 2013
 

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Shawn wrote:
<quoted text>
Our pensions are the "average" of our salaries over our career, not the highest salary. Not to mention that people who retire from the public sector do no simply fade off into the Florida sunset, as you may think. Most still have to work in order to make ends meet in today's economy. Just like many in the public sector have two jobs to make ends meet. It is not the huge payout you would like to believe.
We, in the public sector, do not get social security, and many, if not most of us have to work until that age to even consider retiring comfortably. And the town only takes care of those health benefits for so long, and even those are being threatened year to year.
Again, I am sorry that those who came before us allowed pensions to become a thing of the past, but it is their fault,not those who currently work in those jobs. People seem to be under some sort of convoluted assumption that municipal employees are living the Lifestyles of the Rich and Famous. That is simply not the case.
WRONG! Most city workers such as fire and police have no wrinkles when they retire. And most have energy left over to work more in a physically tough job for another 30 years.

And yes many buy mansions and nice cars into retirement and live very well off a very good pension! Tell the truth!

Now a city clerk may live from check to check but I do not know any that need to get another job to survive!
Lynch Too

Leominster, MA

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#66
Oct 15, 2013
 

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Lynch wrote:
<quoted text>
Just think Genius, if the debt ceiling isn't passed then the baggers and the managers will be sent home with no paycheck!!!!
Your answers sound quick but they are not feasible.
And let me ask. If a person works for the city for say 30 years, pays 11% for pension cost. How does this 11% pay for 30 years of pension at 75% of that workers wage plus full boat health care for husband and wife??
Good point. I've always wondered how it's fair that someone like you who has never worked gets paid 100% and healthcare benefits?
Working Stiff

Gardner, MA

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#67
Oct 15, 2013
 

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Lynch wrote:
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There is more than one CEO and there are thousands of non working investors that get paid. 30 years ago there wasn't a tenth of the number of CEOs that there are today.
Take for example if you have $100, you give the CEO $80 and the employee $20. Now in our nation it is the same math as there is only so much money.
The problem is that so few have all the money which can never sustain our consumer market economy!
Food stamps and welfare is 100% government spending as this money is used to support thousands of JOBS!!! When people are not spending enough the government needs to spend in order to keep the economy working. This is economics 101 and should be re-taught to everyone so they can better understand the flow of money.
Welfare doesn't support jobs. People would still have to buy food, pay rent, pay utilities even if they didn't get it free. Those jobs would still be there and could possibly be with higher pay because taxes would decrease without welfare.

Do you really think if there was no welfare that no one would eat and Market Basket would close?

Welfare people is the problem. Welfare people are not going to just stop eating and pay rent or utilities because they lose their benefits. They would have to get a job !

You need a class in economics. Lets keep it simple. Why should I have to pay taxes to keep the welfare people comfy and not working?

Why do I have to pay taxes to help balance the budgets when the welfare people don't pay anything? Do you realize that the taxpayers are really paying extra to make up for those welfare people that do not pay anything?

Hmmmmmmmmmmmmmmmm.
Working Stiff

Gardner, MA

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#68
Oct 15, 2013
 

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Lynch wrote:
<quoted text>
There is more than one CEO and there are thousands of non working investors that get paid. 30 years ago there wasn't a tenth of the number of CEOs that there are today.
Take for example if you have $100, you give the CEO $80 and the employee $20. Now in our nation it is the same math as there is only so much money.
The problem is that so few have all the money which can never sustain our consumer market economy!
Food stamps and welfare is 100% government spending as this money is used to support thousands of JOBS!!! When people are not spending enough the government needs to spend in order to keep the economy working. This is economics 101 and should be re-taught to everyone so they can better understand the flow of money.
That is the same as saying we need more crime because that will create jobs. We would need more prisons because that is Government money that funds the prisons and that supports jobs.

You are forgetting where does that Government money come from? Maybe there is a magic government tree that grows money somewhere?

More welfare, more crime, more prisons! That's the answer!

According to your economic mentality maybe we should all go on welfare to create and support more jobs! But the only problem is who gets to decide who has to work? I know I will not be the loser that has to work!

That's the spirit!
Hmmmm

Leominster, MA

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#69
Oct 15, 2013
 
Working Stiff wrote:
<quoted text>
Welfare doesn't support jobs. People would still have to buy food, pay rent, pay utilities even if they didn't get it free. Those jobs would still be there and could possibly be with higher pay because taxes would decrease without welfare.
Do you really think if there was no welfare that no one would eat and Market Basket would close?
Welfare people is the problem. Welfare people are not going to just stop eating and pay rent or utilities because they lose their benefits. They would have to get a job !
You need a class in economics. Lets keep it simple. Why should I have to pay taxes to keep the welfare people comfy and not working?
Why do I have to pay taxes to help balance the budgets when the welfare people don't pay anything? Do you realize that the taxpayers are really paying extra to make up for those welfare people that do not pay anything?
Hmmmmmmmmmmmmmmmm.
You don't get it. In his sick reality the rest of us who earn money should give it to him so he can stuff his face with Doritos for free and in some strange way he thinks he's supporting the economy.

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