Pros and cons of gov't employment?

[yowser]

I like my government job, if they would put my job code into high risk or at least special risk it would be even better. As it stands we only make about 1.7% a year retirement. But I am combatting that with a defered comp. account.

 

[El Toro]

My brother-in-law retired from a government job, and from where I sit, it looks like the nicest thing he's got is his defined benefit pension.

Most of us have either no pension, or a defined contribution pension. The difference between defined benefit and defined contribution is huge.

In defined benefit, you get paid in your retirement according to some formula that considers the number of years of your service, and the pay you received during your last X years, or your highest X years, or however they set it up. If they don't have enough money, they raise taxes or raise the deficit to make sure you get yours.

In defined contribution, the employer pays in, you may also pay in, the money is invested, and however much there is, that's what you can get over your retirement, either through an annuity, or through some other arrangement depending on the plan.

If I had a defined benefit plan, I would not have to worry so much about the market, interest rates, value of the dollar, etc.

Of course nowadays, anyone who has either type of pension is probably in the minority. Benefits have eroded incredibly in the last few decades.

 

[FJRBluesman]

Pro - You work for the gubment.

Con - You work for the gubment.

 

[JimNtexas]

Both McCain and Obama have expressed open contempt for the private sector. Their 'cap and trade' energy plans are going to bankrupt many private sector companies that use energy in any substantial amounts.

We are headed for a very rough period for the private sector. If you can get a goverment job and keep it without going postal, then grab it!

 

[ponyfool]

Both McCain and Obama have expressed open contempt for the private sector. Their 'cap and trade' energy plans are going to bankrupt many private sector companies that use energy in any substantial amounts.
We are headed for a very rough period for the private sector. If you can get a goverment job and keep it without going postal, then grab it!

Well done! Way to take a non-political thread and **** it up for everyone!!! Great job!!!! You clearly didn't follow the instructions upon signing up, or you just simply didn't read them. Woohoo! Good job Jim!!!!

Oh, wait, sorry, it isn't Friday, I should have just said, "WTF?!?!"

:clapping: :clapping: :clapping:

 

[vectervp1]

Both McCain and Obama have expressed open contempt for the private sector. Their 'cap and trade' energy plans are going to bankrupt many private sector companies that use energy in any substantial amounts.
We are headed for a very rough period for the private sector. If you can get a goverment job and keep it without going postal, then grab it!

Well done! Way to take a non-political thread and **** it up for everyone!!! Great job!!!! You clearly didn't follow the instructions upon signing up, or you just simply didn't read them. Woohoo! Good job Jim!!!!

Oh, wait, sorry, it isn't Friday, I should have just said, "WTF?!?!"

:clapping: :clapping: :clapping:

Some peoples kids.... just can't take them anywhere....

My job isn't as doom and gloom as I made things sound in my original post, but I was trying to get a point across that Government jobs are really no different than other jobs. There are some that are bitchin and there are some that are real *******. In AZ, some cities have had cutbacks and have had layoffs. I've also seen a 14% pay increase because they did a market study and discovered IT folks were way underpaid. Basically don't look at it as how are Government jobs, but how is this employer.

One of the best things I have going for me in my Gubment job is my pension. Like El Toro said, once I hit my magic number (which will be at age 49 for me) I'll be able to retire with full bennies. For me that means a percentages of the highest base pay (I think its 80%) I made in the last 5 years prior to retiring. Part of my medical benefits are covered, my medical coverage and my spouses is guaranteed for life. When I pass away, my wife (if I'm married at the time) will continue to get 50% of my benefits until she dies, no matter how old we live to.