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Chauvin may get million dollar pension

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posted on Jun, 12 2020 @ 11:30 AM
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a reply to: underpass61

I know in some states you cannot collect on a civil lawsuit on a pension.
OJ Simpson got away with that if I recall correctly.




posted on Jun, 12 2020 @ 11:32 AM
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originally posted by: Macenroe82
a reply to: Bluntone22

That seems pretty low in terms of a pension.

My current pension would be just over 80k a year, if I felt the need to retire at age 38.(Not including what ever penalties they would hit me with)

I think 3% of my pay cheque goes towards it, then my company adds 5%

I'm in the mining industry though.
EVERYTHING is inflated when it comes to mining.



That only lasts as long as the company has the funds to pay. Many cities are billions behind funding pensions.
It will hit the fan eventually when bankruptcy is declared.



posted on Jun, 12 2020 @ 11:44 AM
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a reply to: Bluntone22

Why do you think him and wifey are getting divorced.
To protect assets...



posted on Jun, 12 2020 @ 11:46 AM
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a reply to: JAGStorm

Maybe she doesn't want to be married to a cold blooded killer and risk losing her retirement plan...

Can't say I blame her.



posted on Jun, 12 2020 @ 12:12 PM
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I'll bet that Chauvin would give that money back to be able to live a normal life again. You reap what you sow...Galatians6-7

But sometimes, you just can't fix stupid no matter how much money they have.



posted on Jun, 12 2020 @ 12:21 PM
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Um, if convicted he shouldn't see a dime! On the other hand that would buy you a lot of Ramen in the joint.



posted on Jun, 12 2020 @ 12:55 PM
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What is the law on pensions? Do criminals lose their pensions by law?



posted on Jun, 12 2020 @ 12:58 PM
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originally posted by: olaru12
I'll bet that Chauvin would give that money back to be able to live a normal life again. You reap what you sow...Galatians6-7

But sometimes, you just can't fix stupid no matter how much money they have.


Same could be said for George Floyd - he sewed violence and criminality his whole life and got it back in return.

edit on 12/6/2020 by UKTruth because: (no reason given)



posted on Jun, 12 2020 @ 01:01 PM
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originally posted by: UKTruth
What is the law on pensions? Do criminals lose their pensions by law?



Depends on the state.
His state, Minnesota, does not take his pension away.



posted on Jun, 12 2020 @ 01:01 PM
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originally posted by: Bluntone22

originally posted by: UKTruth
What is the law on pensions? Do criminals lose their pensions by law?



Depends on the state.
His state, Minnesota, does not take his pension away.


Then he should get his pension.
It's as simple as that.
Feelings should not be allowed to override the law.



posted on Jun, 12 2020 @ 01:09 PM
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a reply to: UKTruth

I agree.



posted on Jun, 12 2020 @ 01:17 PM
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originally posted by: neo96
He'd probably have to spend it all on protection from gang bangers.



His GoFundMe proceeds might be used for that.



posted on Jun, 12 2020 @ 01:18 PM
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He earned it. It's his money. For every paycheck he got since he was employed he PAID about 7% into his pension fund. This was matched by his employer, so 14% (approximately) went into this fund from every paycheck. This is about the same as social security, into which he paid an additional 7% (+ 7% from his employer.) At five years his pension is "vested," meaning he eventually gets a return. How much? 2% per year of work, so if he works 25 years he gets 50% of his last salary. There are "rules" as to how many years you need to put in before you can retire and how old you need to be. There are also different systems, depending on when you join up. Some of them pay only 1% out and your contribution is treated like a 401K. Each state is sllghtly different.

In about 1977 the retirement systems changed so that it was more difficult to draw a pension. This had the effect of adding severe penalties of you tried to retire early, but generally the systems work like this. You can retire at 25 years at 55 years old, OR you can retire at any age if you have 30 years in, HOWEVER, in the newer systems there is a steep penalty if you retire prior to age 65.

This is quite complicated and we can go on and on yadda yadda about how this all works, but above are the basics. I'm not trying to be ultra comprehensive here because it would take too long. The bottom line is that it is HIS MONEY in that pension fund that he was FORCED to contribute. He had no choice. So a $50K/year pension out of a $100K year job is just about right. You get to "a million dollars" when you assume he will draw it for 20 years, but this is also a great way to make a sensationalistic headline.

So the fact is you are aghast that this guy could get his contributions to his pension fund back. A key point here is that once this pension money is deducted from his paycheck, there is no further taxayer liability. It is a PRE-PAID system. When you read that "the taxpayers" are liable for pension pay outs the reason is because the state in question, such as Illinois, has SCREWED UP their pension fund so badly through mis-management that their liabilites exceed their funding. An actuarialy sound pension plan such as I have described would not cost the taxpayers one more dime.

A lot of your outrage here is based on ignorance and the fact that you have pre-convicted this guy and managed to create a martyr out of a career criminal who has preyed on the public (and taxpayers) for his entire adult life.



posted on Jun, 12 2020 @ 01:19 PM
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a reply to: Bluntone22

He needs to set up a trust if found guilty, so the pension will go directly to his family.



posted on Jun, 12 2020 @ 01:21 PM
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a reply to: Bluntone22

Hey, I'm cool with that. I'm even cool with freeing him from jail even! ON ONE CONDITION!

They give him a bag with $1 million dollars CASH, in 20's, 50's and 100's, take out a full page ad in every city newspaper detailing exactly when he will be released, unarmed, on the streets of Minneapolis at the exact location where Floyd died. Lowered by helicopter, right into the center of the crowd...him and his bag of loot!

ETA - Okay, maybe that's a bit harsh. I'll settle for 20 years to life in the state pen and he loses his city match on his pension. The city match gets used to contribute to paying the inevitable lawsuit judgements the city will face.


edit on 6/12/2020 by Flyingclaydisk because: (no reason given)



posted on Jun, 12 2020 @ 01:26 PM
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originally posted by: JAGStorm
a reply to: Bluntone22

Why do you think him and wifey are getting divorced.
To protect assets...


The racist killer's minority wife
The more you look at all of this, the more holes appear.



posted on Jun, 12 2020 @ 01:32 PM
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Far as I can tell he didn’t get up that morning to kill somebody, just likely overly zealous to show off for the rookies and over did it a wee bit.....

Here’s the opposite, some x-con walking down the street passed by some random dude and words were exchanged. Con threw a punch and as walking away dude fell and cracked his skull on curb, dead, s::t happens

Oh, that is quite a bit of cash, the con got f all but life in jail
edit on 12-6-2020 by tayton because: (no reason given)



posted on Jun, 12 2020 @ 01:34 PM
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a reply to: burdman30ott6

That's a stretch; Asians are not recognized as "minorities" under Affirmative Action laws.



posted on Jun, 12 2020 @ 01:34 PM
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originally posted by: Shamrock6
And yet the year before that it was #18 on the list. It’s almost as if it fluctuates or something.


Swing by for a beer, I can make it go to like 11 or 12 at least.



posted on Jun, 12 2020 @ 01:37 PM
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a reply to: schuyler

One and a half million seems like a lot for a 44 year old cop to have earned in that short of time.

Not disagreeing with you or anything it just usually takes more years than that.



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