Maine based retirement?

There is no future in Social Security and we need to act NOW for our kids, our workers, and our State.

Richard Light

5-27-2016

 

Maine State employees (Maine bureaucrats) consist of teachers, corrections officers, mental health workers, road workers, bridge crews, DMV workers, DOJ staff, DOE Administrators, Legislators, State-House workers, Accountants, Lawyers, Doctors, Police officers, Fire Fighters, Park Rangers, Wardens, and many, many more…

Every Bureaucrat works for tax dollars. These tax dollars are taxed by the State (a game of shells where fake money floods the system of tax money creating a phony accounting scheme by which government is able to spend more than they take in). This tax money comes to Bureaucrats in the form of pay (76% above the same jobs in the private sector), School Loan repayment (upwards of 138,000$ for many recipients), Continued Education (3,000 to 60,000 dollars per year), Healthcare (fully paid family plans), Dental care (partially paid and often fully paid family plans), Family benefits for education and student loan repayment, and a Retirement package which pays 75-80% of the income of a bureaucrats’ top-paid 3 years of State employment. Realistically, Maine has a platinum employment system. The caveat is that the best employment, at the best pay, with the best benefits in Maine is as a State employee being paid by the tax payers of Maine.

Focusing on the retirement program run by MainePERS in Augusta, we can see that a Maine-based retirement program is not only possible, but is in effect and posting gains as a retirement program. Retirees of the Maine State bureaucracy are paid consistently and with Cost-of-Living increases which average 2.2%. Compared to the Unites States’ Social Security program, the Maine State retirement program averages a better interest rate and is actually solvent (the Social Security program has been robbed by politicians and is in debt; money paid into social security today is not enough to pay for the money being paid-out, let alone having funds for investment). The United States’ Social Security program is not sustainable; anyone under 50 should understand  by now that Social Security will not be there for our retirement. We need to rethink retirement and in order for us to have anything in our senior years, everyone under 50 needs a new option. I propose a State option.

Having a State-based retirement program is simple to implement. The system is already in place for moving money from incomes into a retirement program; all we need to do is redirect the federal social security theft from our paychecks into a Maine-Based retirement program. The benefits of this program are numerous. This program will benefit Bureaucrats and tax-payers in several ways.

1)      Maine’s retirees will see more money in their retirement checks; this has been realized already in comparing MainePERS’ payouts for retirees to those of Social Security recipients.

2)      Maine workers who are taxed for social security will not be wasting their money on a system which has proven to be insolvent, stolen from, and ineffective.

3)      Mainers who will not be able to collect Social Security when the social security account officially collapses (predicted for anyone under 50) will have a system of retirement such as has benefited our parents, grandparents, and great grandparents.

4)      Employees in bureaucratic State employment will be able to change jobs from department to department or from public to private employment and continue their accrual of retirement funds.

a.       Employees who are burned-out in corrections, mental health, physically stressful jobs, or in any other capacity within State Employment can easily change jobs. This will better tend to the capacity and ability of bureaucrats who are unable or unwilling to perform their duties but retain their employment when they are simply there to “Get their retirement”

b.      The societal impacts are endless when we can ensure bureaucrats who are unable or unwilling to perform their duties to Maine with quality and compassion are able and encouraged to seek employment which better suits their abilities, temperament, and passions.

5)       Maine’s economy will be drastically impacted as we stop paying for bureaucratic contributions to Social Security (which they often do not receive; also known as “double-dipping”).

6)      Mainers will realize a fairer system of retirement where bureaucrats do not utilize tax money to receive a greater retirement benefit than those who worked to generate the taxes. All retirees will be able to benefit from a fairer system.

7)      The effectiveness of retirement accounts is greatest when the investor is able to not only track their investment, but is able to access the agency which manages their accounts. Being able to have a voice and influence over retirement is something the federal government is unable to offer in any ‘service’ it provides. Control is only available in this nation at the most local level (in this event, the local level is Augusta not the endless bureaucracies of Washington D.C.)



There is NO reason Maine cannot begin and maintain a retirement program. The battle for this begins in the knowledge of the inability and dead-end of the federal Social Security Program, the understanding that this system does not benefit everyone, the wisdom to understand that our current system is unfair and benefits only the Bureaucracy at the cost of private sector employees, a will to want a better retirement system, the fact that we have the tools in Maine already to implement this, the desire to want a better system for our kids and workers, and the voice of an educated and well-thinking, well-meaning people to tell our government to do this.

 

http://www.mainepers.org/Pensions/NPP_Report_3-5-2012.pdf

 

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