If you are getting a state/county/city retirement, or expecting to get one

[raccoon]

when you do retire, do you worry that one day the funds will run out?

[tularetom]

1. Well you could worry about dying before you get to enjoy your retirement

I stopped worrying about things I have no control over.

[raccoon]

2. Good point. Reason I asked is I could "buy back" some state time for my

state retirement, but the ways things are going, who knows how anything will turn out?


:shrug:

[tularetom]

5. Do it. I bought back some military service time

And I did it just before I retired. It's all paid off now and I've gotten more back than I put in in just 8 years. The chance that your fund will go under is small compapred to the upside potential.

[Lasher]

3. There's much less reason for them to worry than private sector retirees.

Corporations have been chipping away for years at pensions and retiree medical for most employees, while loading up on them for senior executives. And there has been some erosion of public employee benefits. But prospects for a decent pension remains one of the best reasons to go into a government career.

[Coyote_Bandit]

4. I figure funding those retirement plans

will be the next excuse for a significant increase in my real property taxes.

When it happens, I'm dumping my house at a fire sale price. Someone else can assume that liability. That is a liability for which the government should already have set aside funds - and hasn't.

Those real property taxes have gone up over 30% in the last 12 months and are expected to significantly increase again this year. The funds are being used to build a convention center, a sports stadium and to do major street repairs necessitated by ecades of government negligence in street mainteance. Renatal properties here are overbuilt so while everyone "enjoys" the benefits only the property owners bear the burden of their expense. Rental rates have not been impacted. I can rent a one bedroom apartment here for the same cost as I did about a decade ago.

[ProgressiveProfessor]

6. Going to be interesting here in California if employee pensions can over ride proposition 13

That fight is coming, its just a question of when