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In article <PLsOj.7522$GE1.332@nlpi061.nbdc.sbc.com>,
notthisjoergsch@removethispacbell.net says...
pretty much gone in private industry but several still have "defined
contribution" plans. Now, 401Ks make up for a lot of what's been
lost and are portable.
benefit" plans do take the last year, or last couple of years into
account. What most private pensions *don't* do, that public plans
do is include overtime in the formula. It's not hard to double
one's income for a couple of years. There is no way the tax payer
should pay that forever.
--
Keith
notthisjoergsch@removethispacbell.net says...
I don't know about "gone". The age of the "defined benefit" isJoel Koltner wrote:
"Joerg" <notthisjoergsch@removethispacbell.net> wrote in message
news:tq7Oj.1556$FF6.588@newssvr29.news.prodigy.net...
All I know from here (CA) is that their benefits are mind-boggling...
Well, it's entirely reasonable to have retirement benefits for public
employees be comparable to what private companies offer... I just hope that
public employee salaries will then become comparable as well (which implies a
pay raise), since otherwise I don't see how the gov't. expects they'll get
comparable quality out of their workers.
Private companies generally offer zilch in retirement benefits. Those
days are long gone.
pretty much gone in private industry but several still have "defined
contribution" plans. Now, 401Ks make up for a lot of what's been
lost and are portable.
Maybe. There are better things to do at 70, though. ;-)One problem with the government seems to be that they don't expect their
employees to be agile over time. See this article:
http://www.gcn.com/print/24_30/37174-1.html -- Someone the government ends up
with a bunch of 70 year old programmers and therefore has to hire IBM to build
them the modernized e-filing systems? Surely there must be some new hires in
the past, say, 40 years who could have been working on this and hence, on
average, would only be middle-aged today!?
A 70 year old programmer can be better than a 40 year old. At least
that's my impression when I see all the "modern" bloatware ;-)
The last years' is indicative of the final salary. Most "definedOh, and then lots of jobs have the retirement benefit tied to the last work
year.
I expect that was implemented to help people who were *forced* to move?
It seems like it needs reworking to differentiate between cases where the
government wants to move you vs. you just voluntarily wanting to do so.
Or you just have to have the right connections to make that happen ...
Anyhow, why should retirement checks be based on the last year of
service? IMHO that's wrong. For everyone else it sure doesn't work that way.
benefit" plans do take the last year, or last couple of years into
account. What most private pensions *don't* do, that public plans
do is include overtime in the formula. It's not hard to double
one's income for a couple of years. There is no way the tax payer
should pay that forever.
--
Keith