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Perry drawing state retirement plus salary
Star-Telegram ^ | December 15, | Maria Recio

Posted on 12/17/2011 2:00:04 AM PST by Cincinatus' Wife

..On a campaign swing through Cherokee, Iowa, Perry was asked why the Employee Retirement System should be paying his retirement while he's still collecting a salary.

"That's been in place for decades. ... I don't find that to be out of the ordinary," Perry said of the practice. "ERS called me and said, 'Listen, you're eligible to access your retirement now with your military time and your time and service, and I think you would be rather foolish to not access what you've earned.'"

...The governor's gross annual salary is $150,000; his net salary is $133,000. The net monthly annuity check Perry started receiving Jan. 31 is $7,698. Combined, his net pay from the state is now more than $225,000 annually.

...."As part of his standard financial planning, on Jan. 31, 2011, Gov. Perry began to receive a Texas state employee retirement annuity of $7,698 per month before taxes ($6,588 net)," [Ray] Sullivan said. "The annuity is consistent with Texas state law and Employee Retirement System rules."

'Rule of 80'

Perry, 61, has a long record of state service, having won election as a state House member, state agriculture secretary and lieutenant governor before becoming governor in 2000.

Sullivan cited what's known by state employees as the "rule of 80," which allows state employees to start drawing on their retirement when their age plus years of public service credit totals at least 80.

"The combination of Gov. Perry's U.S. military service, state service and age exceeded the state-required 80 years and qualified him for the annuity," Sullivan said.

Perry continues to pay 6.5 percent withholding tax from his state salary to the state retirement system, the spokesman added.....

(Excerpt) Read more at star-telegram.com ...


TOPICS: Business/Economy; Extended News; Government; Politics/Elections
KEYWORDS: financialdisclosure; perry2012; portfolio; ruleof80; salary
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To: Cincinatus' Wife
"FULL" in federal retirement parlance means "You get to retire on what we give you". The maximum retirement under CSRS is 80% of your high three ~ after 40 years service.

If you go to the site I pointed you to you'd be able to compute his retirement based on his service time and his high3.

"FULL" in private sector and apparently state and local government means 100% of your high three.

Then there's "vesting" ~ there's no federal vesting of retirement until 5 years service.

You can come back years later and get the retirement.

If you imagine Newt got his high three as a retirement you would be in error.

101 posted on 12/17/2011 9:39:17 AM PST by muawiyah
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To: Tribune7
I'm not quite sure how federal retirement is obscene ~ that's all your Congress-critters get. If they took another federal government job they'd be a RE-EMPLOYED ANNUITANT and ineligible to receive their retirement while working.

In the federal system what Perry is doing is considered "double dipping". It is not allowed.

102 posted on 12/17/2011 9:42:33 AM PST by muawiyah
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To: Tribune7
The Constitution says you can change Congressional compensation in one Congress but it doesn't happen until the next Congress.

So, let's say Perri Caliente comes in and demands a 50% Congressional pay cut, so they do it (ha, ha, ha, ha), and it's not effective for another two years after the next election.

Technically these guys can't even return their salary to the government ~ IT'S UNCONSTITUTIONAL!

BTW, that's what happens under the amendment that so many Conservatives thought would reign in government pay at the top. It has a quite perverse REVERSE EFFECT.

103 posted on 12/17/2011 9:46:41 AM PST by muawiyah
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To: BobL
Still not seeing how the TTC was bad. It was nothing more than a state tendering an offer to have a turnpike constructed.

Which improves transportation without increasing the size and scope of the state’s DOT.

Cries of ‘imminent domain’ ring *VERY* hollow considering that the selfsame opponents who cry it are the same that cry *FOR* it regarding a border fence.

-

And unlike d@#n near every other politician, Perry - at least - *listened* to his constituents and stopped it when a fuss was raised. How many other politicians do you know that actually *DO* that?

104 posted on 12/17/2011 9:48:04 AM PST by gogogodzilla (Live free or die!)
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To: altura
The other candidates ~ the ones getting a federal government pension can't get a double federal government pension ~ one for being in Congress and one for being President.

Perri Caliente would become a triple dipper ~ two state pensions and a Presidential pension.

Mitt probably considers it chump change.

BTW, these government pensions are not inheritable. Whatever you paid in is just lost when you die. They are "group plans", kind of like a mutual insurance deal.

105 posted on 12/17/2011 9:50:24 AM PST by muawiyah
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To: Georgia Girl 2

Exactly and if you are a state worker, you can only collect from the retirement system not Social Security. My SIL was a teacher and when she retired, she griped because she could not collect on her teacher retirement and her deceased hubbys SS. No medicare either.


106 posted on 12/17/2011 9:50:27 AM PST by gopheraj
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To: normy
While I might agree with you on the morality of the situation the cold, hard facts are that the federal retiree gets his retirement pay nicked by an amount nearly equal to what he earned after 20 years in the military. If he is disabled he gets hit with an even bigger nick.

A USPS letter carrier doesn't get a separate USPS retirement and a US government retirement if he should decide to get some other federal government job. He simply gets service time ~ 20 years for just one retirement from the federal government.

What Perri Caliente is getting is a retirement for each separate job working for the same government.

With the average federal government employee starting work with the federal government at the age of 35, if he or she retires (on a "full" ~ cough, cough) retirement at age 55, the retirement will be computed at 20% of high three. He he retires at 65, the retirement will be computed at 30% of high three. If he retires at 75, the retirement will be computed at 40% of high three.

That means the just recently hired federal employee will need to make substantial savings out of his current income in order to have a plush retirement!

107 posted on 12/17/2011 10:00:50 AM PST by muawiyah
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To: gopheraj
Almost state and local governments opted to enroll in the Social Security system as that was made available to them.

Some places still aren't in. They make a bundle of bucks out of their alternative investments.

108 posted on 12/17/2011 10:05:55 AM PST by muawiyah
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To: gopheraj

Oh, yeah, and federal government employees were not eligible for Social Security until recently (1987) and only if they were covered under the FERS system or worked sufficient quarters OUTSIDE the federal government.


109 posted on 12/17/2011 10:07:03 AM PST by muawiyah
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To: All

FYI I do not respond to posts that use terms like Perri Caliente.


110 posted on 12/17/2011 10:51:05 AM PST by altura (Perry 2012)
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To: Mind-numbed Robot; 4rcane
Many Perry supporters were Palin supporters before Perry entered the race and Palin decided not to run.... If Palin were running most of us would support a Palin/Perry ticket or Perry/Palin ticket.

I'm proud to say I'm in that category! :)

Photobucket

111 posted on 12/17/2011 11:13:19 AM PST by smoothsailing (Have A Very Perry Christmas!!!)
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To: muawiyah
I'm not quite sure how federal retirement is obscene ~ that's all your Congress-critters get.

Those poor babies. How about we give them a defined contribution 401K-type plan?

How about we give every civilian in government a 401 K -type plan just like they do in, well, just about everywhere in the private sector?

So, let's say Perri Caliente comes in and demands a 50% Congressional pay cut, so they do it (ha, ha, ha, ha), and it's not effective for another two years after the next election.

We have something called progress.

112 posted on 12/17/2011 11:29:49 AM PST by Tribune7 (Vote Perry)
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To: Tribune7
You are so far behind in current events it isn't funny. The defined contribution 401K-type plan was created in 1986. That's what new hires get.

If you'd paid the slightest attention to the Reagan Administration you would have already known that.

113 posted on 12/17/2011 11:38:46 AM PST by muawiyah
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To: catfish1957
Guv’s a living breathing PR disaster. Too bad, because he is probably one of the most conservative of the lot.

No, he is not a PR disaster. He deserves his pension.

The other candidates have their own PR nightmares, much worse than Perry. The fruits of their labor may not be so above board.

114 posted on 12/17/2011 11:45:31 AM PST by World'sGoneInsane (Make America Great Again--Perry 2012)
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To: Lib-Lickers 2
if you compare the way Texas has been run over the last ten years with other states Perry ought to get a raise..

Right?! They should pay governors on commission.

115 posted on 12/17/2011 11:47:11 AM PST by World'sGoneInsane (Make America Great Again--Perry 2012)
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To: Dudoight; Cincinatus' Wife; shield; txmom7; All
Excellent information and comments by many on this thread.

A couple of weeks ago someone from the ‘north-east’ posted that they, [up there], ‘hate’ Texans because ‘they brag so much’...... My thought is that ‘it's not bragging when you speak the truth’.

GO RICK PERRY !!!

116 posted on 12/17/2011 11:57:50 AM PST by potlatch (*snip*~ Having the right to be angry does not give one the right to be cruel. ~*snip*)
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To: BobL

There have been hundreds of posts on this issue. It’s a ‘non issue’ when you fully investigate it.

In 2006, Sarah Palin was elected governor of Alaska. In June of 2007, Alaska accepted federal funding to boost access to Gardasil, the HPV vaccine.

http://pjmedia.com/tatler/2011/09/13/sarah-palins-alaska-took-federal-funds-to-increase-access-to-gardasil/

20 states had legislation to mandate the vaccine in 2007


117 posted on 12/17/2011 12:20:40 PM PST by potlatch (*snip*~ Having the right to be angry does not give one the right to be cruel. ~*snip*)
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To: potlatch

http://twitter.com/#!/ArletteSaenz/status/148155386824892416/photo/1


118 posted on 12/17/2011 2:21:32 PM PST by smoothsailing (Have A Very Perry Christmas!!!)
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To: gogogodzilla

“Still not seeing how the TTC was bad. It was nothing more than a state tendering an offer to have a turnpike constructed.

Which improves transportation without increasing the size and scope of the state’s DOT.”

Cintra (the company that Perry was using to build the highways...and then be allowed to charge as much as they wanted) charges 30 cents per mile in tolls (Canada 407 ETR). My wife and I drive 25,000 miles per year on highways. We DO NOT want to pay another $7,500 in TOLLS, beyond the state and federal gasoline tax.

But that was JUST FINE with Governor Perry.


119 posted on 12/17/2011 2:49:49 PM PST by BobL ("Heartless" and "Inhumane" FReepers for Cain - we've HAD ENOUGH)
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To: potlatch

“In 2006, Sarah Palin was elected governor of Alaska. In June of 2007, Alaska accepted federal funding to boost access to Gardasil, the HPV vaccine.”

Fine, please give me a link to the Alaska law that MANDATED that little girls get the shots show that they could have wild and crazy sex in their teen years.


120 posted on 12/17/2011 2:51:31 PM PST by BobL ("Heartless" and "Inhumane" FReepers for Cain - we've HAD ENOUGH)
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