Gubmit Employee Retiree Medical Benefits

Hugh R · 05-18-2006, 05:34 PM

Can't find the link from USA Today but not surprisingly many state and local gubmits are on the tab for billions in employee retirement medical benefits that were given away in contract negotiations (read permanent entitlements). Some cities are projecting $8,000 liabilty for every man, women and child on their tax rosters. Just what I need, to pay retiree medical bennies for gubmit workers in MY retirement when I won't get any such thing.

Moneyguy1 · 05-18-2006, 05:37 PM

You need better negotiators.

Hugh R · 05-18-2006, 05:42 PM

I'm not represented by a collective bargaining agreement. But yeah, in Los Angeles they have a 20/50 plan for many gubmit employees that retire with 20 years at age 50 and collect full retirement. I should have stayed with one of my first jobs at the County level and I could "retire" in a few years. In about 12 years, I'll retire to another place.

Moneyguy1 · 05-18-2006, 06:16 PM

I worked in aerospace for uears, getting "laid off" and "rehired" every time a project was cancelled, restarted or initiated. Not a lot of fun. Found a place that paid reasonably well, had a medical plan, fulfilled my needs and gave me the freedom to operate a part-time counselling service. Bottom like: My wife and I have full medical coverage, partly due to dumb luck in choosing between, at the time, a job in electronics or in a quasi-governmental organization.

Retired now, and afraid that in the future, the system will work itself out because with the cutbacks in pensions, replacing defined benefits with defined contributions and the lack of medical coverage, people will no longer be able to retire. That will solve the Social Security problem as well!! I do not know your age, Hugh, but I would not be surprised that we have seen the last generation of average folks to actually "own" a home outright and retire at a reasonable age.