5 years of work 4M retirement benefit for Public employee
invite response
2013 Jan 18, 8:57am 2,173 views 3 comments
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marcus
2013 Jan 19, 9:02am
marcus
2013 Jan 19, 9:02am
I agree too.
But pension reform has been done, at least at the sate level. Caps in place of 132K.
http://www.huffingtonpost.com/2012/09/12/california-pension-reform-bill_n_1878662.html
http://www.sanluisobispo.com/2012/09/07/2216351/viewpoint-what-statewide-pension.html
So your concern is being addressed and may be further.
I don't mind compensation but Public service should not be this lucrative.
That's essentially how much a 230K annual bump to the pension is worth, based on reverse annuity. All done in 5 years and not a day more of government work.
That's before whatever was accumulated and whatever will be accumulated.
http://www.sfgate.com/news/article/UC-president-Mark-Yudof-to-step-down-4206304.php
I think our police chief, Heather Fong got 250K annual for being a police chief for 3 years, retired in her 50's. That's a 6M annuity (due to early retirement) for 20 years of being a seageant and 3 years of top cop.
I don't mind compensation but Public service should not be this lucrative.