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5 years of work 4M retirement benefit for Public employee

By SFace follow SFace   2013 Jan 18, 8:57am 1,501 views   3 comments   watch   nsfw   quote   share    

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.


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.

2   marcus   ignore (11)   2013 Jan 19, 9:02am     ↓ dislike (0)   quote   flag      

I agree too.

But pension reform has been done, at least at the sate level. Caps in place of 132K.




So your concern is being addressed and may be further.

SFace says

I don't mind compensation but Public service should not be this lucrative.

3   marcus   ignore (11)   2013 Jan 19, 9:30am     ↓ dislike (0)   quote   flag      

Apparently the cap only applies to new employees.

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