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High end retires rip off public pension program


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2014 May 11, 2:23am   1,733 views  6 comments

by tovarichpeter   ➕follow (6)   💰tip   ignore  

http://www.contracostatimes.com/daniel-borenstein/ci_25732483/daniel-borenstein-major-shift-contra-costa-pension-system

Signaling a major attitudinal shift, the retirement system that five years ago became the poster child for California public employee pension spiking announced it will now review past calculations to see if excessive retirement payments can be rolled back. The Contra Costa Employees' Retirement Association calculates most pensions based on an employee's length of service and highest year of income, usually from the final 12 months worked. At issue is whether that income was improperly inflated. Spiking enabled Moraga Orinda Fire Chief Peter Nowicki to retire from a job that paid $185,000 and draw a $241,000-a-year starting pension, with subsequent...

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1   Blurtman   2014 May 11, 2:50am  

Successful Americans! We admire, da!

2   clambo   2014 May 11, 3:02am  

The govt. goldbricks are bleeding the system.

Firemen are the worst. I have seen exactly 3 fires here since 1982, two were caused by the 89 quake.

3   Tenpoundbass   2014 May 11, 3:05am  

That's the problem with Liberals being so tax hungry.
They only waste it when they get it, and do dumb shit like pad government job retirements, while the gettin' is good.

The problem with that, their lust for taxation kills the very thing they taxed, in order to exploit people's happiness. When those taxes, make said activity no longer something that makes people happy, because of taxes, fees, franchise taxes, regulatory mandates ect... ect... and ect to fucking infinity...
Then the money dries up, sending these greedy Jackals to cannibalize and loot each others ill gotten gains.

Poor bastards, they should have realized that $275K pension would be short lived, so I hoped they saved some.

4   Ceffer   2014 May 11, 3:08am  

"highest year of income" really? Graft at it's most egregious.

6   tovarichpeter   2014 May 12, 2:21am  

So many public sector workers do little useful work. They are just serving their time for the paycheck and the pension.

Just like corporate CEOs

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