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jay5627 t1_j6hxprc wrote

Reply to comment by DataRikerGeordiTroi in Mayor Adams plows ahead with plan to privatize health benefits for 250,000 NYC municipal retirees by mowotlarx

> Also crazy in the richest country in the world benefits aren't already guaranteed in retirement

They were guaranteed. People worked their whole lives below market rate for the security. Now that's being pulled out from under them. I'm not sure why any person would continue to work for the city if they have any other option. They've proven they won't keep their word

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mowotlarx OP t1_j6i0ee4 wrote

People forget that even when you have a "good" pension, if your highest salary in city work was only $40k, you're only making a percentage of that upon retirement. That is a very low fixed income. Most city workers don't get that sweet NYPD, FDNY, DSNY overtime they can tack on to retirement. Add an extra $100-200 a month for worse healthcare and fewer doctors and that's enough to really push people over the edge.

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Pool_Shark t1_j6ikx1f wrote

Pension + SS is still more than SS alone

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mowotlarx OP t1_j6ioxb0 wrote

And it's still not enough to live on and definitely won't be enough 20-30 years from now.

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Pool_Shark t1_j6ipe04 wrote

That’s fair. 20-30 years from now everyone is screwed so we’ll need a bigger reform unless then plan is to let older people die homeless on the streets

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philmatu t1_j6hz8q0 wrote

I work for the state, I'm paid roughly 33% of what I could make in the private sector. I exchange the low pay with a stable job, union protection, healthcare (including if I retire directly from this job with 10+ years of service I'll get my healthcare for life), and a pension (for me its 2% of my final salary * years of service after 20 years or more). I still have to pay for my healthcare and pension in payroll deductions but it's less than if I was in private. The newer hires pay more overall but get similar benefits. If it wasn't for the long-term benefits, I'd probably hop for the private sector as many of my smarter colleagues already have. For me, state government has very interesting problems to solve and they impact the greater good, as where most of the private sector work I've seen impacts the company's profits and does little beyond that.

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DataRikerGeordiTroi t1_j6hyh5l wrote

Thank you.

I shared in another comment that I find these kinds of topics really difficult to understand, but I am genuinely trying, so any kind of explainer helps.

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