Statements about Retirement

"Sixty-percent of the state retirees...don’t get Social Security.’’

Rhode Island Treasurer Gina Raimondo "raised the mortality rate from 65 to 87" and "used a 1994 annuity chart" to create the pension crisis.

"If Rhode Island does a hybrid [retirement] plan we’ll be the first state in the nation to do this.’’

"A recent Department of Labor study guessed Wall Street fees cost a worker 28 percent of the value of your plan over the span of your career."

"This is the first time in our state, and one of the first times in the country, where benefit reductions . . . has happened to people who are retired."

"In the past six years alone, changes to the pension formula … have saved over half a billion dollars."

"Poverty among Americans 65 and over is statistically unchanged" in recent years because of Social Security.

"The average state pension, including managers, is $23,000 a year; and just $14,000 for local government workers."

Says Oregon state employees received a "catch-up" pay raise in 1981 -- just two years after they agreed not to take a raise in exchange for a retirement benefit.

"In (Sen. Marco) Rubio's state of Florida alone, Social Security lifts more than -- count it -- a million people out of poverty."

Thirty-seven percent of Central Falls’ retired police officers and firefighters are out on disability pensions; in most municipalities, about 5 percent of retirees collect disability pensions.

Says the state’s pension and health benefits reform includes "the destruction of public sector collective bargaining rights."

Statistically, law-enforcement officers die 10 years earlier than the general population.

"The average 401(k) in America of a person who's 60 years old is under $100,000."

"The firefighter and police officer pension system is not headed for bankruptcy, far from it. That’s because New Jersey first responders -- fire fighters and police officers -- have never missed making payments to the retirement system." 

Virginia state employees "pay nothing" toward their pensions.

Says state Sen. Sheila Harsdorf wants to "eliminate Medicare" as we know it.

"A recent study revealed that, across the nation, taxes would have to be increased by an average of $1,300 a year just to support the currently unsustainable public employee pension systems. In Florida, that dollar figure translates to $813 a year."

Says an alternative to Social Security that operates in Galveston County, Texas, has meant that participants will "retire with a whole lot more money" than under Social Security.

"The Public Employee Retirement System is making more millionaires than the Oregon state lottery."

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