Why raise the age ? The NYS government can't afford to pay the older workers salery now so they offer buy outs . This would just increase the buy out program and probably cost NYS more .
Bob , Why do they offer a 5 year buy out almost every year latly . To me that means the state cant afford to pay the wages of senior worker who is in the last 5 years of work who in return is earning a substantial amount compared to a new hire or are they just not re-hiring that job after the buy out .
Jerry, actually 27 years of State Service is about 2 years too long. It was like reporting to my cell every morning and getting furloughed over night. The taxpayers in Texas are lucky that I didn't need a cash incentive buyout, although they have done that twice in less than eight years. Our current budget is short 27 Billion for the next two years under the direction of phoney Uber Conservative talking head Gobernador Rick "Palin" Perry. He fancies himself as President and the key word is fancy. Like in "fancy pants." Gobama 2012!
Jerry,
I was only using 40 years to show it is years of service that should be considered, not age. Right now some law enforcement personnel get full retirement at 20 years, no age requirement. Correction Officers can get full retirement after 25 years with no age requirement. Other employees have to have a combination of years and age to full retirement.
If they raise the retirement age to 90 they could triple the benefits! Unfortunately no one under 60 would apply for the jobs. That would definately save some money.
I agree with John. It's not age but years of service. Some have to put in 30 years and be 55 to collect. Some put in 20 or 25 and collect no matter the age then go work another 20 in a different retirement system.
I'm not getting why it should be years of service? I don't know any business that has a retirement plan that says you can cash out after x-number of years. The private sector operates on the concept of reaching a certain age to retire, why shouldn't the public sector?
I suppose it makes sense to have a years of service system for those people in highly stressful and dangerous jobs, such as law enforcement, but why should a civil service employee get to retire at 55 when a person doing the same duties for a private business must hold on to 65?
Howard,
If age is the only criteria, then I could go to work at 63 for a private company, then retire at 65.
I believe most companies, that still have a retirement system, have a combination of years and age, as do the vast majority of State jobs. And if a State employee does retire before the age 62, they have a substantial cut in retirement pay.
Also, you will find that the age has been raised in the new Tier V, state retirement plan that was passed about a year ago. Note, teachers still get to retire earlier than others, a concession to their union.
Howard? You love your job, you will never have to retire. You are blessed and you know it dude. Batavian's need you, although I don't know why you bother with us.
Why raise the age ? The NYS
Why raise the age ? The NYS government can't afford to pay the older workers salery now so they offer buy outs . This would just increase the buy out program and probably cost NYS more .
Tom, their working a few more
Tom, their working a few more years would accomplish a couple of things.
1.)When they retire, they draw their pension AND we have to pay another to do the job.
2.)They are still paying into social security - not taking from it.
I'm not really versed on the issue, but these seem to make sense. Myself, I figure I can afford to retire at about 86...
Bob , Why do they offer a 5
Bob , Why do they offer a 5 year buy out almost every year latly . To me that means the state cant afford to pay the wages of senior worker who is in the last 5 years of work who in return is earning a substantial amount compared to a new hire or are they just not re-hiring that job after the buy out .
Missed the point. It's not
Missed the point. It's not age, it's years of service. If I start working for the State at 55 and then retire at 65, so what?
If I start at 18 and go to 58, I think 40 years of service is enough.
Agree with John. Years of
Agree with John. Years of service is the point. Unlike John though, I think 30 years of service is enough except for senior leadership positions.
Jerry, actually 27 years of
Jerry, actually 27 years of State Service is about 2 years too long. It was like reporting to my cell every morning and getting furloughed over night. The taxpayers in Texas are lucky that I didn't need a cash incentive buyout, although they have done that twice in less than eight years. Our current budget is short 27 Billion for the next two years under the direction of phoney Uber Conservative talking head Gobernador Rick "Palin" Perry. He fancies himself as President and the key word is fancy. Like in "fancy pants." Gobama 2012!
Jerry, I was only using 40
Jerry,
I was only using 40 years to show it is years of service that should be considered, not age. Right now some law enforcement personnel get full retirement at 20 years, no age requirement. Correction Officers can get full retirement after 25 years with no age requirement. Other employees have to have a combination of years and age to full retirement.
If they raise the retirement
If they raise the retirement age to 90 they could triple the benefits! Unfortunately no one under 60 would apply for the jobs. That would definately save some money.
I agree with John. It's not
I agree with John. It's not age but years of service. Some have to put in 30 years and be 55 to collect. Some put in 20 or 25 and collect no matter the age then go work another 20 in a different retirement system.
I'm not getting why it should
I'm not getting why it should be years of service? I don't know any business that has a retirement plan that says you can cash out after x-number of years. The private sector operates on the concept of reaching a certain age to retire, why shouldn't the public sector?
I suppose it makes sense to have a years of service system for those people in highly stressful and dangerous jobs, such as law enforcement, but why should a civil service employee get to retire at 55 when a person doing the same duties for a private business must hold on to 65?
Howard, If age is the only
Howard,
If age is the only criteria, then I could go to work at 63 for a private company, then retire at 65.
I believe most companies, that still have a retirement system, have a combination of years and age, as do the vast majority of State jobs. And if a State employee does retire before the age 62, they have a substantial cut in retirement pay.
Also, you will find that the age has been raised in the new Tier V, state retirement plan that was passed about a year ago. Note, teachers still get to retire earlier than others, a concession to their union.
Howard? You love your job,
Howard? You love your job, you will never have to retire. You are blessed and you know it dude. Batavian's need you, although I don't know why you bother with us.