Should we raise the retirement age........again?

I can’t speak for all government entities, but I work for local government. Our retirement is based on age + years of service. When they add up to 85, we can retire with full benefits. The amount IS determined by years of service and salary. Like everyone else, we lose our insurance. Our retirement gas nothing to do with Social Security. We pay into it and receive it the same as everyone else. While we have very good benefits where I work, not all government agencies are are the same. However, what we may gain in terms of better insurance ( and it is may gain), we usually lose in terms of pay. More often than not, we don’t make what the private sector makes for comparable jobs, and yes, bad workers can and do get fired.

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No it isn’t.

While that may have been the case, when benefits are factored in, it’s a pretty good gig.

words matter.
I said Compensation. You showed me salary.

In addition, the article you linked pointed out -Federal workforce is made up much more of white collar jobs then blue color jobs. the avg federal salary is well below the avg salary of white collar jobs.

But back to my original point - I was discussing compensation, not just salary. For the private sector this often includes bonuses, something fed employees do not get).

https://ask.fedweek.com/federal-pay/employee-awards/

Federal jobs also have great benefits.

Your assertion was simply false as the numbers show.

I said very often. Not never.
I don’t think saying private sector white collar jobs have bigger, broader bonuses then fed jobs is that controversial, is it?
I don’t think saying most fed employees could get paid more in the private sector is that debatable?
I do think fed employees get better benefits.

in the end - I think its a wash. Def dont see fed employees being better off then private sector employees overall.

I agree they have great benifits.
You Assertion of what my assertion is demonstratively false, as my orginal comment still stands.
Overall compensation for the private sector is better then overall compensation for federal employees.

Yet you have no evidence to support the claim and the numbers that can be produced show your claim to be false.

Been here 20 years. It’s got something going for it… :grin:

I have both. I work for a company.

Who murmured?

Retirement age (or rather age at retirement) is not directly related to Social Security benefits. For example, I retired at age 57, but I did not apply for my SS benefit until I was forced to at age 70-1/2. Raising the full SS benefit age from 65 to 67 over the course of several years did not cause society to crumble and raising it slowly to age 68, 69 or even 70 would not do so either.

On the other hand, doing so would preserve the solvency of the program indefinitely without having to increase payroll withholding. It is most definitely something to be considered if you want the program to remain.

The government dipped their fingers into this mandated retirement pot, that they said they’d never, ever touch and have drained it. They then have wasted money so much that they’ve raised the age of when they have to pay it back…a couple of times now. Once again, due to government waste and lies…they want to raise it again. Why not just tell the truth and say… ■■■■ you, I stole the money and I do not want to pay you back…ever. I’d rather continue on my path of government corruption?

That’s not the problem. The problem is that SS is a ponzu scheme and the ratio of payers to payees has been shrinking and far more payees are living longer than when the program started. Do the math … it cannot survive unless they either make workers pay more or require people to be older before they can draw benefits.

I’d like to see the math on all the contributions made since it’s inception and that if it earned 3 or 4% annually through just buying one of every stock that makes up the S&P500 and examine where “we” would be?

A quick Google search suggests that the average annual interest return on the fund has exceeded that since about 1960.

It’s ok, the “lock box” is full of IOU’s. :joy:

Really? Then the mathematician who designed all of this and was supposed to look way ahead…sucks. :sunglasses:

Was he supposed to accurately predict the birth rate, the average life span, the rate of return, the rate of inflation and the Congressional meddling 90 years into the future? Who do you think he was? God?