Tuesday, January 27, 2015

Is Our Pension Doomed?

This is a very disturbing article by the AJC. At the same time, rumors are swirling that the county wants to drop all retires from health benefits and force them into ObamaCare.

Click here to read more.

16 comments:

Anonymous said...

Leave while you can and take what you can, it will be gone!!

Anonymous said...

If you've remained in that shit hole counting on a pension or some revelation from the voting taxpayers or upper echelon then you're either legally retarded or haven't been paying attention for the past 20 years. IT'S OVER... Move on.

Anonymous said...

I can just hear some of the fools in Decatur talking to themselves in the back room now...."Well darn, I guess running all the business's and tax paying residents out of the county wasn't such a good idea after all. We wanted DeKalb to become a socialist/communist/welfare state and all but we never figured it would backfire on us. I wonder if we can blame the employees, or the taxpayers and business owners who fled or maybe even George Bush? Wait...I know....if we can get the federal government to declare this a war zone then we can get economic aid like like they give those other war torn country's all over the world."

Right.....

Enjoy the mess you have made. If your a Dekalb Police Officer, take my advice and find another place to work where the citizens and their elected officials still care about you and your families.

Yes...I am a retired DeKalb Police Officer

Anonymous said...

YES, why are you still working there?

Anonymous said...

The pension would be closer to $2Billion if the county had continued funding instead of its current value around $1.2 billion. It is not likely to collapse anytime soon and yes the new cities should continue to fund the pension as DKPD still has to respond to police matters in them. I'm very thankful to the citizens of DeKalb for the pension. I respect it as an expression of their gratitude for us risking our lives to police DeKalb. As far as the new cities I was trying to determine the value of Dunwoody or Brookhaven's pension for their police and I came up with zero dollars. They do not think enough of their officers' sacrifices to provide them a pension. What happens if one of them is disabled in the line of duty; no pension. They day they retire their money (401K) begins to dwindle. How much does one need in their 401K to retire at 65 these days: $1 million, $2 million or $3 million? Any idea how they'll afford healthcare after retirement?

Anonymous said...

This county has been run by idiots. Complete Effen Idiots !Starting with you know who !

Anonymous said...

They paid us a crap salary and we stayed because of the pension and they screwed that up too.

Anonymous said...

Anon 1:41 said "I respect it as an expression of their gratitude for us risking our lives to police DeKalb. "

News flash.... The pension is part of your Compensation Package...NOT "an expression".

The pension is part of the package that gets you to accept a DeKalb offer instead of XYZ Department and to stay with Dekalb.

The pension is compensation earned by you and OWED to you for services provided over the time you work for Dekalb.

Geez!

Anonymous said...

"I respect it (the pension)as an expression of their gratitude for us risking our lives to police DeKalb. ".....

That my fellow officers is the dumbest statement I've ever seen on the blog.

PatsQB said...

The new cities care about their employees. A pension that is under funded is not a sign of "emotional care for employees". A city that gives you 5% in a 401? And then matches you up to another 7%...so I max contribute and get 12% contribution from my city. Oh, and my department is well run, by competent command staff. To top it off my city is not mired in political scandal after scandal. Johns Creek, grass is greener here. I respect and miss SO many of the people in DKPD. DeKalb does not respect you, and that sucks.

Anonymous said...

To Jan 29 at 1:41 PM....

Obamacare, thats how. And you will be paying for the healthcare of all those people who never worked a day in their lives and those who came here illegally just so you can pay their way too. Sit back, relax and enjoy poverty in your old age. If you don't believe me, go to the emergency room at any hospital in metro Atlanta with a broken leg and see how long it takes you to be seen. Just because your a retired police officer that worked your ass off for decades getting shot at and beat up doesn't give you any more than the drug addict who just ODed on meth or crack.

Anonymous said...

Soooo, what are our elected officials in Decatur and on our yes OUR pension board doing about it? Anything, or are they just sitting on their collective asses and doing nothing to get the money the county is required to put back into the pension. Funny how county CEO is saying he is trying to get Cities to contribute....When they aren't evening making their required contributions....

Anonymous said...

401K balance of $75000
annual income of $65000
annual salary increase of 3%
employee contribution 5%
employer match of 7%
25 years of service
average annual retrun of 5%
That less than $500000 for retirement............My DKPD pension is a better option and I haven't even touched my 457 plan.

Anonymous said...

I imagine the usual will occur being raises all around with the usual required pension contribution hike along with health insurance premium increases to offset any and all raises. The beat goes on...

Anonymous said...

What is the challenge in doing the math to have a comprehension of the contributions required to maintain a sovereign pension within a realistic time frame and then bringing it to fruition?

Anonymous said...

Anon at 2:44

That is a great comment. Your Pension Board have done just that.

We had Segal, the Pension Fund Actuary, calculate the future contributions so that the plan will be fully funded in 30 years or sooner -- just like the mortgage on your house.

Historically, the contributions were calculated on a rolling 30 year payout, so that it was all ways 30 years, not 29, then 28 and so on. We voted for a closed 30 year funding plan.

After the stock market crash, your Pension Plan was funded at 48% on a market value basis.

As of 1 April 2014, the most recent report, your fund was at 65%. Great progress.

And no matter what the stock market does as far as returns, your plan will be fully funded no less than 30 years from now.

Ed Wall
DeKalb County Pension Board