The Gov't is Looting Your Retirement Fund!

**alevin** · 02-23-2010, 01:57 PM

Burro, I'm not so sure any of us under 55 will ever receive SS. I'm not counting on it, but I have been counting on the 1% FERS leg of my retirement stool.

If I sit on the stool just right, my own 2 feet can serve as the 3d leg if they have to, but I really don't want to be trying to sit on a 1 legged stool after I turn 70.

**malyla** · 02-23-2010, 02:07 PM

Originally Posted by alevin

Burro, I'm not so sure any of us under 55 will ever receive SS. I'm not counting on it, but I have been counting on the 1% FERS leg of my retirement stool.

If I sit on the stool just right, my own 2 feet can serve as the 3d leg if they have to, but I really don't want to be trying to sit on a 1 legged stool after I turn 70.

Tru that! I have often thought along simular lines about that three legged stool. With the rules that govern SS, (can't get full benies until 72 and a huge penalty for taking it before that) I have not counted to heavily on that money in my planning which has made me very cautious about losing money in the TSP (takes 1.5 to make up for 1.0 loss) as I'm over halfway to retirement. Is there a better way???? Maybe crime does pay as we seem to have more ethically dubious behavior since the 1990s. Those ethically challenged individuals will be sitting happy and warm sipping their alcoholic beverage of choice over a steak in their gated communities while the rest of us just make do with pasta and ripple

**FAB1** · 02-23-2010, 02:10 PM

I am not CSRS, but I was told once that the funds in CSRS are in a "lockbox" - meaning that the clowns can not "borrow" out of it.

Thus the reason creation of "FERS" (according to them) to get people out of CSRS so the gov. circus performers could raid the henhouse of all the nest eggs. So is this true or has that CSRS dough already gone the way of SS??

**Frixxxx** · 02-23-2010, 02:14 PM

Originally Posted by malyla

Those ethically challenged individuals will be sitting happy and warm sipping their alcoholic beverage of choice over a steak in their gated communities while the rest of us just make do with pasta and ripple

You got RIPPLE?

That must be some ancient stuff...they don't make that swill anymore

!

Man, I'm stocking up on MD 20/20. $2 bottle!

**malyla** · 02-23-2010, 02:20 PM

Originally Posted by Frixxxx

You got RIPPLE? That must be some ancient stuff...they don't make that swill anymore

!

Man, I'm stocking up on MD 20/20. $2 bottle!

I know....I was using it as a euphemism for alcoholic 'swill'

Thanks for the assist

I'm going to take up a second(third) trade - cat burglar (those gated communities have high walls

)

**malyla** · 02-23-2010, 03:01 PM

Originally Posted by malyla

I know....I was using it as a euphemism for alcoholic 'swill'

I guess I was dating myself as I know what ripple is (most people born in the late 70s, early 80s would not know) but I have no idea what MD 20/20 is

And $2 a bottle seems high as you can get a six pack of Old Milwauke (sp

) for under $5. Is MD 20/20 like Colt 45 in a brown bag?

**Frixxxx** · 02-23-2010, 03:09 PM

Originally Posted by malyla

Is MD 20/20 like Colt 45 in a brown bag?

MAD DOG 20/20!

http://www.bumwine.com/md2020.html

**malyla** · 02-23-2010, 03:14 PM

Originally Posted by Frixxxx

MAD DOG 20/20!

http://www.bumwine.com/md2020.html

LOL

Love that last sentence.
Thanks for the laugh.

**nnuut** · 02-23-2010, 03:39 PM

Originally Posted by FAB1

I am not CSRS, but I was told once that the funds in CSRS are in a "lockbox" - meaning that the clowns can not "borrow" out of it.

Thus the reason creation of "FERS" (according to them) to get people out of CSRS so the gov. circus performers could raid the henhouse of all the nest eggs. So is this true or has that CSRS dough already gone the way of SS??

Seems to be true, BUT: CSRS
4. “This fine retirement comes right out of the general fund: our tax money.”

This statement omits crucial information about the financing of the federal retirement system. When federal employees and their employing agencies make contributions to the CSRDF, such money is deposited in the general fund, and a government security of equal value is created and credited to the CSRDF. These securities are backed by the full faith and credit of the U.S. government and have the same standing as U.S. Savings Bonds. When funds are needed to pay retirement benefits, securities credited to the CSRDF are converted to cash with money from the general fund.

This assertion also attempts to make the reader forget that U.S. taxpayers are the employers of members of Congress and other federal employees. The Bureau of Labor Statistics reports that 97 percent of all medium and large employers in the United States pay for their employee retirement pension benefits without worker contributions.

Finally, many of the same false claims and arguments being circulated about members of Congress also have been used against federal retirement and health benefits in general. Perpetuation of these false claims undermines NARFE’s efforts to preserve our earned compensation. NARFE members also should recognize that there are a number of lawmakers—past and present—who are fellow members of NARFE.
http://www.narfe.org/departments/gue...les.cfm?ID=408