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<blockquote data-quote="SMS" data-source="post: 2115236" data-attributes="member: 42"><p>Hate to sidetrack, well really I don't because it's fun, but best pension? Not really. The pension works out to 1% per year of service....based on the average of the last three years of service. For a guy making $50K, that pension equals $10K per year if he bails at 20. It's better than nothing, but not "the best".</p><p></p><p>As far as the sequestration cut, some folks are facing a furlough of 2 days for every pay period. A typical pay period is 10 working days (for the mon-fri crowd). Basic math brings that to a 20% reduction. </p><p></p><p>But I agree, given our country's insane financial situation, something has to give and the adjustment period is going to hurt. The bad thing about this sequestration is that an entire year's budget cuts are going to be forced into a 6 month period. If our "leaders" would actually plan out a budget with real cuts next year, things could be spread out to ease the pain....lots of ground could be made with voluntary early retirements, attrition etc...</p><p></p><p>I'd love to see a corresponding cut in the 70+ social welfare programs to go along with the rest of the cuts, but I'm not holding my breath. And like I said in a previous post, most of this is show. Political theater with no real impact on government spending. That makes a 20% pay cut even harder to swallow.</p></blockquote><p></p>
[QUOTE="SMS, post: 2115236, member: 42"] Hate to sidetrack, well really I don't because it's fun, but best pension? Not really. The pension works out to 1% per year of service....based on the average of the last three years of service. For a guy making $50K, that pension equals $10K per year if he bails at 20. It's better than nothing, but not "the best". As far as the sequestration cut, some folks are facing a furlough of 2 days for every pay period. A typical pay period is 10 working days (for the mon-fri crowd). Basic math brings that to a 20% reduction. But I agree, given our country's insane financial situation, something has to give and the adjustment period is going to hurt. The bad thing about this sequestration is that an entire year's budget cuts are going to be forced into a 6 month period. If our "leaders" would actually plan out a budget with real cuts next year, things could be spread out to ease the pain....lots of ground could be made with voluntary early retirements, attrition etc... I'd love to see a corresponding cut in the 70+ social welfare programs to go along with the rest of the cuts, but I'm not holding my breath. And like I said in a previous post, most of this is show. Political theater with no real impact on government spending. That makes a 20% pay cut even harder to swallow. [/QUOTE]
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