Friday, September 23, 2011

Hardcore Pension Reform On The Horizon

Commissioner Elaine Boyer spoke at Perimeter Community Improvement Districts luncheon and as per a tweet mentioned pension reform.
"From: @SpaceyG
Sent: Sep 23, 2011 12:34p

DeKalb Commish Elaine Boyer warning that hardcore pension reform is on
the horizon for DeKalb County, GA too. Welcome to the stock market!"
http://twitter.com/SpaceyG/status/117275743892946944

Yes folks, it is going to get worse before it better.

18 comments:

Getting My Resume Ready said...

Pension..... the reason I stay and deal with the reduced pay/benefits and the general BS..... Currently, the promise is that I will benefit at a later date......aka retirement.

Ms. Boyer, if you change the pension for those already in the system, the flood of veteran officers and employees who left during the early retirement offering will look like a small drip.

Anonymous said...

The basic difference between the defined pension plan and the 401K is relatively simple.

The pension plan is forced savings for the employee while the 401k is voluntary savings. Some employers will match part of the 401 while others will rely on the employee to make its own decision.

The benefit from the county standpoint is that the county has several "distributors" of stock plans which the county is enjoined into. This can be beneficial to employee if the employee makes the right decision as to where to place his savings contributions.

Pension contributions are placed into mutual funds by the county where the county has designated what funds are viable as to a good return. The pension plan or the 401k is a risk because they are both tied to the stock market.

So, in short, it doesn't make too much of difference as to whether the retirement is a pension or 401k type savings, either one has a slight risk.

Lots of money has been made over the years in 401k plans, and yes, lots of money has been lost also.

In this day and time, a voluntary savings or forced savings can be beneficial to the employee if the employee looks into which mutual fund or stock has the best track record.

The sure plan is the fixed income plan, but at the present time, probably is paying such a ridicious rate of interest makes it laughable.

The choice is yours. Do not be affraid of the changeover, because it was only a matter of time. A lot of departments have changed over the last several years and more will do so in the future.

Jerry Myer Jackson Jr. said...

As long as the DeKalb CEO and BOC carry bloated staffs, 2 & 3 times the size of comparable counties and "dumbed down" management is the rule of the day, Guess What ?

Almost Every Major City in America is facing Major Pension Reforms for an array of reasons. Add in lit'l larry and our prince little lord faunteroy - Shake n Bake - You get crumbs every time !

These Incumbent Politicians must be defeated - each & all - Your Lifes and Livelihoods depend on it !

Whoever has convinced you that not attending BOC meetings will help your cause is greatly mistaken !

A Great Atlanta Area Labor Leader was buried on Friday - Herb Mabrey, RIP - Herb would tell you, "Stand Together and Stand Tall"

One more suggestion is "Stop Preachin to the Choir"

Take your anonymous comments to every other news venue you can find. So far you are un-noticed other than on DeKalb Officers Speak. We will see who we see ?

Be Safe in your good works.

Anonymous said...

Liberals, leave the pension alone, you thiefs.

Anonymous said...

The BOC wants all employees out of the current pension plan. They say its to expensive.

All they think about is the current list of budget problems that they create.

The employees are the first ones they can penalize for their mismanagement.

You must be desperate to seek employment with this county.

I feel most will be short term until they find something better.

These new recruit positions will only replace the ones who have left by the time they are on the road by themselves.

Anonymous said...

Anybody that believes or trusts Elaine Boyer is as big of a fool as she is. Trust me blogmaster she is evil and very dishonest, its a shame to see you trust her so much.

LoFlyer said...

When I left the meeting with Commissioner Boyer several months ago, one of the employee reps asked me a serious question, "How did we do?" I could only answer honestly "I don't know."
What I saw later gave me some hope, but the trend is clear. The new employees pension will be gutted, and current employees pension contributions increased to 50 percent, possibly to 66 percent, but I doubt that will occur for a couple of more years, at least the 66 percent employee pension contribution.
What is clear is that the commissioners are refusing to reorganize and downsize the county of obsolete and unneeded employees and departments.
Instead all employees will sacrifice equally in pay and benefits to support a bloated government that has lost sight of its core services in favor of community and senior centers in South Dekalb.
My opinionated opinion,
KenC

Anonymous said...

It's going to 16%! Double what you pay now! If you stay in the old plan.

Anonymous said...

Our pension will never be as safe as it could be as long as Tom Brown and Ellis are involved... C'mon Man! Wake the hell up DeKalb voters. There has to be some competent candidates left in the county to run!

Anonymous said...

"The basic difference between the defined pension plan and the 401K is relatively simple.

The pension plan is forced savings for the employee while the 401k is voluntary savings. Some employers will match part of the 401 while others will rely on the employee to make its own decision."


To whom ever posted this drivel, please quit posting about pensions. There is a MAJOR difference between 401k's and a defined benefit pension plan. Please use "Google" and do a search on defined benefit, defined payment, and various employer contribution plans. First...401k's ARE NOT the golden nugget everyone makes them out to be, YOU must invest HEAVILY to prepare yourself for retirement. I could go on but all you have to do is do some basic research or even listen to Clark Howard once in awhile.

Veteran Officer.....taking my knowledge and experience elsewhere! said...

Pension to 401K..... if the county does that, they better also increase my immediate compensation. I work for less today because I will be compensated in the future during retirement via the pension.

I know the county won't increase my pay while forcing me into a 401k so, I've updated my resume and will start putting the feelers out.

Looks like I'll achieve civilian status ..... retired PD.... before reaching the age I planned on retiring.

Anonymous said...

If they keep screwing with us like this, the only people the county be able to hire will be lowlife, immoral losers like the ex-officer who pleaded guilty to child molestation today. Good, qualified people will go elsewhere.

Anonymous said...

Writings on the wall fellas. Been on the wall.......Dekalb County is "a has been.............".

Unlike Atlanta with a business district (ie Buckhead) and with the loss of Dunwoody (a good part of its tax base) DC has nothing left.

What???? Candler Road.? Memorial Drive? Covington Highway, Tucker? Stonecrest?

Neighborhoods with so many abandoned houses they can make up their own "hoods".

Oh yea......DC is were its at. NOT!!

What a shame because "They" destroyed it.

Please.....hard times ahead for the country. Really hard times ahead for DC......

Stop wasting time.Polish up your resumes......get the hell on.

Anonymous said...

Let me tell ya the best day there is the last day you know you have to climb into that filthy heap they call a police car only to grab a greasy chicken wing bone as you attempt to adjust the stained seat.

Anonymous said...

In reference to the comment about the quality of people Dekalb can attract as Recuit Canidates, we can't attract decent ones now. Out of 200 canidates who have been reviewed for the next academy, there are eight that are being accepted. Hooray for Chief O'Brien for sticking to his guns in reference to not hiring anymore "mouth breathers." I can't even begin to express my negative sentiments for the Board and CEOs over the past 10 years that have destroyed this county and police department. You would think that in these hard economic times the recruitment of decent people wouldn't be so difficult. This department has decended a long way since the days that we had 40 positions available and we would have 200-600 QUALIFIED applicants for those positions.

Anonymous said...

Did you see in the Dekalb newspaper where Stogner makes over $16,000.00 a month in salary. He always likes to tell you that he works for free, it must not be a salary then, it must be a gift.

Anonymous said...

On a positive note, yes I have heard the same thing, Chief O is doing everything he can to turn this place around. Starting with hiring people because of their qualifications and not the color of their skin. It was open knowledge that our old CEO had an open agenda to Black'en DeKalb. Time to start looking at more than just the color of the skin. Take a look at credit scores, which shows responsibility. Unfortunately most of us wont see the rewards of the decisions that Chief O is making now, because things wont start to change for 8-10 years. I look forward to meeting the next academy and seeing how they are looking. All 10-12 of them!

Anonymous said...

Mr Stogner making $16K per month? I don't know what newspaper that is, but they must be quoting his previous pay under Jones. I understand he just started getting paid this month after working free for a year!