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Larry SREGGIN

Brooklyn, NY

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#21
Mar 17, 2014
 
High Taxes and Riggies wrote:
<quoted text>
UPD. Always selling fear.
And "race blame".

They have a full-time troll here they call "AnalCretinTalker" who spends his days and shift online starting race baits and hate posts. He's been doing it for about 4 years now.

Selling fear and race hate on behalf of the "Oneida County Phony Leo Community" is Job#1.
Rachel Ray Riggies

United States

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#22
Mar 17, 2014
 
Larry SREGGIN wrote:
<quoted text>And "race blame".
They have a full-time troll here they call "AnalCretinTalker" who spends his days and shift online starting race baits and hate posts. He's been doing it for about 4 years now.
Selling fear and race hate on behalf of the "Oneida County Phony Leo Community" is Job#1.
I don't know if it's their job but they certainly act like it is.
Truth

Utica, NY

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#23
Mar 18, 2014
 
fat and lazy on pension wrote:
<quoted text>Hate to discourage you but New York state PENSION fund has so much money in it it can buy the whole state of Rhode Island. Active PENSION boys are in SAFE mode ,only new ones after a certain date are possibly screwed.
You don't have to look any further than back to 2008 to understand how the New York State pension fund works. I will grant that there are laws in place that mandate 100% funding for that system making it different than many state pension systems but it certainly not self sustaining. The NYS pension fund depends partially on investments for revenue to sustain itself. After the crash of 2008 when their investments tanked(along with most every one else's), the pension system still needed funds to sustain itself. Because the law says that the system must be 100% funded they went where they always go - to the taxpayers. Taxpayers had to make up the difference between what was required to sustain and the non-return on investments.

In the event of another economic downturn the NYS Pension system will have to once again look to taxpayers for a bailout. This time though I think more taxpayers will revolt against the idea of supporting this bloated system that benefits only some. That is when current retirees could feel the pinch. If I were a pensioner I would be praying for a strong and sustained economic recovery. Don't believe for a minute that current benefits aren't at risk. Politicians may say it and public sector union newsletters might print it but plain common sense and simple math should tell you otherwise.
fat and lazy again

Utica, NY

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#24
Mar 18, 2014
 
Truth wrote:
<quoted text>
You don't have to look any further than back to 2008 to understand how the New York State pension fund works. I will grant that there are laws in place that mandate 100% funding for that system making it different than many state pension systems but it certainly not self sustaining. The NYS pension fund depends partially on investments for revenue to sustain itself. After the crash of 2008 when their investments tanked(along with most every one else's), the pension system still needed funds to sustain itself. Because the law says that the system must be 100% funded they went where they always go - to the taxpayers. Taxpayers had to make up the difference between what was required to sustain and the non-return on investments.
In the event of another economic downturn the NYS Pension system will have to once again look to taxpayers for a bailout. This time though I think more taxpayers will revolt against the idea of supporting this bloated system that benefits only some. That is when current retirees could feel the pinch. If I were a pensioner I would be praying for a strong and sustained economic recovery. Don't believe for a minute that current benefits aren't at risk. Politicians may say it and public sector union newsletters might print it but plain common sense and simple math should tell you otherwise.
You sem to have forgotten when PATAKI was trying to suck some of the state pension monies out a few years back . All I am saying is that before the money grab or so called bailout is needed most of the older pensioners will be long gone off this earth and like I said the younger ones will have to deal with it. Right now with the stock market bloated with hungry investors like a casino things are looking great for the NYS pension system. And to make matters even better the comtroller also makes investments with the monies that cover the short side.
Riggie Riggies

United States

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#25
Mar 18, 2014
 
Truth wrote:
<quoted text>
You don't have to look any further than back to 2008 to understand how the New York State pension fund works. I will grant that there are laws in place that mandate 100% funding for that system making it different than many state pension systems but it certainly not self sustaining. The NYS pension fund depends partially on investments for revenue to sustain itself. After the crash of 2008 when their investments tanked(along with most every one else's), the pension system still needed funds to sustain itself. Because the law says that the system must be 100% funded they went where they always go - to the taxpayers. Taxpayers had to make up the difference between what was required to sustain and the non-return on investments.
In the event of another economic downturn the NYS Pension system will have to once again look to taxpayers for a bailout. This time though I think more taxpayers will revolt against the idea of supporting this bloated system that benefits only some. That is when current retirees could feel the pinch. If I were a pensioner I would be praying for a strong and sustained economic recovery. Don't believe for a minute that current benefits aren't at risk. Politicians may say it and public sector union newsletters might print it but plain common sense and simple math should tell you otherwise.
It would be nice if my retirement accounts were protected by the taxpayer.
Truth

Utica, NY

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#26
Mar 18, 2014
 

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fat and lazy again wrote:
<quoted text>You sem to have forgotten when PATAKI was trying to suck some of the state pension monies out a few years back . All I am saying is that before the money grab or so called bailout is needed most of the older pensioners will be long gone off this earth and like I said the younger ones will have to deal with it. Right now with the stock market bloated with hungry investors like a casino things are looking great for the NYS pension system. And to make matters even better the comtroller also makes investments with the monies that cover the short side.
If we use what has happened in other places as a template for what would happen here then you are wrong. When the math catches up, the fund can no longer meet its' financial goals for sustainability and the taxpayers don't come up with the difference then all in the fund suffer. That includes current and future retirees.

You don't really think that if backed into a corner like this that the pension fund would just keep paying existing retirees at their current rate do you?

Google what happened in Central Falls, RI or about what is being proposed in Detroit. Existing retirees are paying the price for the mistakes of the past and are having their benefits cut. Like I said, if we use what has happened in other places as a template for what could happen in New York then all will suffer.

Eventually Tier 5 and Tier 6 will alleviate some of the problem but that is a generation or two away.
Upd

Utica, NY

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#27
Mar 18, 2014
 

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Ask tom lindsey how is pension is doing. If its so great then take the exam
Tex

United States

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#28
Mar 18, 2014
 

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Riggie Riggies wrote:
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It would be nice if my retirement accounts were protected by the taxpayer.
Wouldn't it ? So take a civil service test a-hole and try to get a better job than cleaning stalls at Arby's.
Riggie Riggies

United States

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#29
Mar 18, 2014
 

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Tex wrote:
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Wouldn't it ? So take a civil service test a-hole and try to get a better job than cleaning stalls at Arby's.
Sorry Internet tough guy. I have a slightly better position than cleaning bathrooms. I also didn't need to take a civil service exam to make sure I was dumb enough for the job.
sam

United States

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#30
Mar 21, 2014
 

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Frank Vescera has been right all along, & no one would listen.
freddy

New York, NY

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#31
Mar 23, 2014
 

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mark u the man
tricky dicky

Utica, NY

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#32
Mar 23, 2014
 

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Truth wrote:
<quoted text>
If we use what has happened in other places as a template for what would happen here then you are wrong. When the math catches up, the fund can no longer meet its' financial goals for sustainability and the taxpayers don't come up with the difference then all in the fund suffer. That includes current and future retirees.
You don't really think that if backed into a corner like this that the pension fund would just keep paying existing retirees at their current rate do you?
Google what happened in Central Falls, RI or about what is being proposed in Detroit. Existing retirees are paying the price for the mistakes of the past and are having their benefits cut. Like I said, if we use what has happened in other places as a template for what could happen in New York then all will suffer.
Eventually Tier 5 and Tier 6 will alleviate some of the problem but that is a generation or two away.
several differences and here is one main reasonNew York State will never go bankrupt and its the best reason NEW YORK CITY. This great city is world renown and has a constant investment coming in from all over the world if its China or Germany making investments and purchases.There is so much cash flow in and out woththe Stock Market and just the amount of population the state can turn to New York City to bail,bond ,purchase,invest ,bleed,help, the rest of the State if the shit hit the fan. There is so much dough in new York city in real estate and billionaire investments that the state can leach off this tit forever. You cant even imagine the value of having that city in the state of new York. There is more worth in that city than the rest of the state. That is the life preserver to this state, its cities and its pension system.Indirectly or directly
sam

Utica, NY

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#34
Mar 24, 2014
 
UticaSucks wrote:
UPD,FD and DPW are so mis-managed in Utica. Brooks is a bully. Palmieri is a bully. They talk to people and degrade people so bad. USCD will not get paid either. This city is so broke, they are hiding 90% of debt. Bankrupt within 18 months.
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