Unfettered Letters

Seniors deserve Social Security

From time to time I read about some of the younger generation crying about paying into Social Security. It just gripes their rears they have to pay so we seniors can have a comfortable retirement.

They act like they are giving us something. The fact is we have paid into it all of our working lives, so we are getting nothing we don’t deserve. So just shut up and pay it. If you did get a few dollars extra each week you would just go out and buy a bigger flat-screen TV or a bigger house you had no intention of paying for that would go into foreclosure in a year or two anyway.

We seniors deserve our trips to sunny Arizona.

Richard Clary
Independence

Boomers’ retirement would create jobs

We do not have to “create” jobs to produce goods or services we don’t need to rescue the economy. We can instead elect to open up the remaining jobs by making it easier for the baby boomers to retire. This is a huge portion of our population, and inducing 5 million to retire would probably be easier than trying to jump-start the economy.

What would this take? Definitely access to health care would be a requirement. Also, there would be a need to access Social Security. Rules to relax the regulations on 401(k) withdrawals may be necessary. However, these steps would not require us to make up work that may misallocate our capital resources.

Every coin has two sides. Why not think creatively?

Stephen Kunz
Overland Park

Interest-rate cuts unfair to retirees

The American people are being represented by a large group of “smart” politicians, bankers, economists and strategists who believe that throwing “our” money at a failing economy will fix the problem.

These “experts” have given billions to the financial industry, but as yet it hasn’t helped the housing foreclosures any. Now the Treasury Department wants to make home loans to new buyers at 4.5 percent interest rates. Who is going to pay for this new effort to stimulate the economy? Everyone who has savings accounts, money markets, CDs and other retirement income — mostly retired people. They will have less income to spend with lower interest income, thus subsidizing new homebuyers.

Remember what Joe the Plumber said? He was right all the time.

Paul Clum
Lone Jack

Missouri money, foreign cars

Am I the only one who noticed that director M. Steve Yoakum and other executives of the Missouri’s Public School and Education Employee Retirement Systems board chose not to support the employees and many retirees of the American auto industry who live in Missouri? (10/19, A-1, “Apple for the teacher, but luxury for execs”) By purchasing Toyota Camrys, they instead sent the profit out of the country.

W.C. Ruckman
Kansas City

Teachers’ retirement fund

As a teacher, I was appalled after reading “Apple for the teacher, but luxury for execs” (10/19, A-1). I spoke to many other teachers about our retirement money being abused.

I cannot tell you how many times I have bragged about feeling financially secure, because I understood my retirement money was well protected.

With the economic crunch going on and having to shell out 13 percent of our monthly paycheck, it is hard for most teachers in the Public School and Education Employee Retirement System. Then we hear board members are using our money to take lavish trips, stay in five-star hotels, drink alcoholic beverages and receive cars with gas.

To reassure members oversight is adequate, M. Steve Yoakum, one of those given a 2009 Camry and paid $253,000 a year, tells us, “We’ve got 200,000 members that are looking over our shoulders all the time.”

Well, Mr. Yoakum, I am one of those members, and this is the first I ever heard about irresponsible board spending.

SaDonna DeVaney
Blue Springs

Teachers’ retirement system

Judy Thomas’s article (10/19, A-1, “Apple for the teacher, but luxury for execs”) on the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) attempted to make one of the best teacher retirement systems in the nation look bad.

The system, she wrote, is “only 83.5 percent funded.” Compared to a large number of defined benefit public systems, that is not a bad percentage.

Operating a $27 billion investment system requires the very best people available. Approximately 70 percent of retiree benefits come from investments. The operating budget of $86 million is three-tenths of 1 percent of the assets.

The article may frighten public education employees. However, the systems were constructed through Missouri statutes and are backed by the Missouri Constitution. Both the Missouri Constitution and case law indicate that benefits may not be diminished or impaired. Missouri public school employees, your benefits are safe.

As a former trustee of the Missouri State Employees Retirement System (MOSERS) and the PSRS/PEERS, I believe both systems are professionally and honestly managed and provide reasonable compensation for the employees.

Dick Franklin
Independence

Perfect Drift retirement

I love horse racing. It started way back when I was in the military and was able to visit three well-known California tracks: Hollywood Park and Santa Anita Park in the Los Angeles area and Del Mar down toward San Diego.

I see where William “Doc” Reed is retiring Perfect Drift (9/24, Sports, “Heading to green pastures”). Just being nominated for the Kentucky Derby is a great honor because these 3-year-olds have to be the fastest of the fastest. When Drift came in third, it was fantastic.

Doc said Drift is going into a different occupation but it can’t be standing at stud. Geldings don’t have any “whichamacallits.”

E.G. McCune
Leavenworth, Kan.

Parenthood pinches retirement

The paper tells me retirees are still not saving enough (7/17, A-1, “.‘Near retirees’ warned of need to be frugal; About 75% of those 58 to 65 will outlive their savings unless they live leaner now, a study says”). I’m retired. I didn’t save enough, but it’s my own fault.

I spent most of my money on an expensive hobby. I raised children.

Joanne Soraya
Platte City

Rebate not so stimulating

A senior retired couple can still end up on the short end of the stick.

Uncle Sam cuts the couple, who have a combined income of less than $75,000, a check for $1,200. That’s good.

Let’s say they aren’t investors but have $100,000 in CDs to supplement their retirement and Social Security checks. If they renew their CDs from a rate of 5 percent a year ago to the present rate of 2.25 percent, they take a hit of $2,750. That’s a net loss of $1,550. That’s bad.

Some people just can’t win, and that’s not stimulating.

Joe F. Dragosh
Independence

City workers’ pensions

Mayor Funkhouser made it a point in his State of the City address that he would like to bring the city’s retirement plans in line with standard business practices. What he really meant to say is that he wants to yank the rug out from under the Police and Fire Department employees who have served their city honorably for years and, in many cases, decades.

Funkhouser failed to point out that he has already “retired” from the city and has his defined benefit pension in place and won’t be affected by this move. He basically wants to steal money from the very people who are entrusted to serve and protect this city on a daily basis.

Mr. Mayor, police and firefighting work isn’t standard business. It’s dangerous and can be deadly. We’re proud of what we do for our city, and we’ve earned what we have.

Unless you are willing to give up your defined benefit pension, keep your hands off ours.

Brian Acker
Kansas City