DO DELAWARE VOTERS KNOW WHO CHRIS COONS IS?
Chris Coons Pension Scam unfolds- how he bilked taxpayers for political cronies
Coons Voted To Open A Pension Loophole That Would Have Allowed County Employees To Buy Into The Pension System, Or To Transfer Credit From Other Government Service. He Saw To It That His Buddies And Top Staff People — And All Six Of The New County Council Members And Their Staffs — Were Grandfathered Under That Loophole Which Has, And Will, Cost Taxpayers Millions Of Dollars.”
“No one knows how many times the County Pension Board rules have been changed to accommodate a particular employee who had political connections to a county executive or County Council. We do know that the so-called loophole has been opened and shut by at least three county executives. Coons was the latest to open it, in 2003. But he’ll also remind you that he closed it in December with needed refinements that make it work like a real pension plan. But those changes came after Coons (helped his cronies collect)......
SOURCE: http://pqasb.pqarchiver.com/delawareonline/access/
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Christine's team better get hopping---this item is a sure-thing Coon election killer. Dollars to donuts these $$$figures are just the tip of the iceberg. What about Cadillac family benefits? Tax dodging annuities ? Exit packages? Six-figure bonuses? Lump sums for phony banked sick/vacation days? Did Coons give the retirees a second job in government?
<><><><><> CHRISTINE, HERE'S SOME RESEARCH <><><><><>
THE MILLIONAIRE COP (firefighter, teacher, federal bureaucrat) Next Door
BY Rich Karlgaard, Forbes Magazine 6/28/10 issue
EDITED Who are America's fastest-growing class of millionaires? They are police officers, firefighters, teachers and federal bureaucrats, who, unless things change drastically, will be paid something near their full salaries every year--until death--after retiring in their mid-50s....a retirement sum worth millions. Based on a realistic 4% return, an $80,000 annual pension payout with full health benefits implies a large pot of money--$2 million, to be precise. That $2 million also happens to be the implied booty of your average California policeman who retires at age 55........in Carlsbad, CA the average firefighter or police officer typically retires at age 55 and has 28 years of service w/ an annual city pension of $76,440. SOURCE http://www.forbes.com/
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Retire-rehire practice is double-dipping
San Francisco Chronicle ^ | 10/1/10 | Chip Johnson / FR Posted by SmithL
"Annuitants" - in public sector parlance - refers to retirees who are rehired to work their old jobs or similar positions, a practice that has become all too common in local and state government. For the retirees, it's just one more way to remain on the public payroll - while collecting pension benefits.
But some government leaders see this recycling of employees as a cost-effective measure in tough economic times: These experienced and skilled employees are available to pitch in during busy periods or fill-in temporarily while new or promoted workers are trained to replace them. "They don't receive benefits, and there's no pension cost to employers," said Pat O'Connell, the auditor-controller for Alameda County.
For most workers, for every dollar spent on salary, the county spends another 50 cents on health and other employee benefits, O'Connell explained. Annuitant employees are restricted by state law to no more than 960 hours - or 24 weeks - of employment for the year. They receive a payroll check, a pension check and - after being laid off until the next year - unemployment insurance payments. It means that in some cases annuitants earn more money than they ever did as full-time workers. Nice work if you can find it.
But there is something terribly wrong with giving pension-collecting retirees a second bite at the apple. Such policies run counter to claims of drastic cost-cutting measures in an effort to bring government spending within the limits of its means. (Excerpt) Read more at sfgate.com ...
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Hey, Christine----check this out.
Former Bell police chief had a lucrative tax angle for retirement Chief Randy Adams had himself declared disabled even as he was hired for the job, a move that could make him millions in tax-free pension income when he retires, according to records and interviews. --SNIP-- "He was not disabled," said Glendale City Manager Jim Starbird, who was Adams' boss until he left for Bell. "I never heard of someone going to work for a city and having that [disability] determination made going in."
How do you you hire someone who is collecting disability and presumably not fit for the strenuous job of police chief. --SNIP--Copyright © 2010, Los Angeles Times
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