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55
Magakekdon33 55 points ago +55 / -0

California has a state pension crisis. One of the rare crisis the left doesn't use. They hide this one because they cannot hurt conservatives with it. The state is in meltdown, but desperately covers it up with lies. The streets are crawling with homeless and trash everywhere (except where the useful idiot-Celebs and politicians' mansions and vacation homes are)

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silentmajority2020 19 points ago +19 / -0

Welcome to the problems in IL as well. Unions and pensions are destroying our state.

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ADAM_SCHITT 9 points ago +9 / -0

And NJ!

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Granny 9 points ago +9 / -0

Govt employees must be switched from pensions to 401k's. For the sake of our kids' and grandkids' future!!!

5
Konsaki 5 points ago +5 / -0

Government retirement has been changed to be very... unprofitable for the employee, assuming you've been hired after 2013.

Basically, 4-5% of your annual wage is 'paid back' into a mandatory 'retirement fund'. Then, if you manage to survive until age 62 and retire from government work, you get 1% of your annual wage back per year for each year you worked.

Basically, factoring in any interest you could have been earning on that money for all those years you worked, you have to survive at least 7-9 years after retiring to 'break even'.

So, yeah, the government retirement system's already changed. Right now, it's waiting for it to propagate through the entire workforce.

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Granny 2 points ago +2 / -0

Didn't know. Is that federal? Or which state?

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SuperPlah 1 point ago +1 / -0

Kentucky too sadly