Posted on 08/02/2012 9:37:15 AM PDT by SeekAndFind
The city is not paying the $200k, CALPERS pays. If CALPERS is short, the state makes up the diff.
I read he has 36 years of service and started as a police cadet. A “safety” employee gets 3% of final pay, times years of service.
A cap on the calculation seems to be in order.
If they just build a high speed train all their problems will be solved.
When are theStockton peasants going to get their pitchforks out????? This is DISGUSTING!!
........................The city is not paying the $200k, CALPERS pays. If CALPERS is short, the state makes up the diff.
I read he has 36 years of service and started as a police cadet. A “safety” employee gets 3% of final pay, times years of service......................
1. What difference whether the city, Calpers, or the state is paying his pension. The taxpayers funded it, and had to fund any shortfall that Calpers amassed by it’s investment strategy.
2. If that’s really the formula for pension, at his fianl pay - for eight months - he gets 3% x 36 years, or 108% of his final pay - starting at his age 52 retirement!
I must be a real stupid schmuck, because after 17 years at a Fortune 50 corporation, where I earned a hundred grand per year, way back when a dollar was worth a dollar, I had to wait nineteen years, until age 65, to get my pension of $20,400 per year.
And, I’m happy to receive that much!
“If that’s really the formula for pension”
It is.
Other state and local employees (other than police and fire)
get 2% or 2 1/2% at age 55.
You can see why CA is finished. I give them 4-5 years, at most.
WRONG,, The Unions ARE the problem in Mexifornia..
Guess you missed the word "alone." Without both, government and unions working together to bring about the problems there wouldn't be any. The elected officials approved the agreements, the unions didn't force them on the state or cities. It took two groups to cause this problem, well three when you add the voters.
“Other state and local employees (other than police and fire)
get 2% or 2 1/2% at age 55.
You can see why CA is finished. I give them 4-5 years, at most.”
It’s actually worse than that as most of the pension benefits is is based on an average of the last tow or three years of service. What a lot of people of is save up sick and vacation pay that they get in one lump sum the last year and counts towards their retire pay. Commonly called pension spiking it can result in you actually getting more in retirement than you made while working. Also most of our “brave” first responders scam the system by retiring on disability which shelters them from paying some taxes on their income.
[ Guess you missed the word “alone.” Without both, government and unions working together to bring about the problems ]
duuuuugh.. the people in the givernment of Mexiforia ARE UNIONS..
You cannot work for the givernment of Mexifornia unless you are a Union drone..
Its much like the “Borg” on Star Trek..
AKA....
Resistance as you know it is over. We will add your biological and technological distinctiveness to our own
You will be assimilated. Resistance is futile.
Resistance is futile. Your life as it has been, is over. From this time forward, you will service us
You are an imperfect being, created by an imperfect being
When a drone is damaged beyond repair, it is discarded, but its memories continue to exist in the collective consciousness. To use a human term, the Borg are immortal
LIKE THAT........ be a democrat -OR- be human...
I can go one better, or worse as the case may be, my town provides retirement and health care benefits to an ex-mayor who is in prison for child pornography. There is no legal way they can get out of it.
I know of other obscene cases as well...
Not only is federal givernment crazy obscene but so is almost all State givernment and Local givernment as well..
The American Brain Wash is immense..
Americans treat the word “democracy” as a HOLY word..
This is nasty filthy word.. accepted as clean..
Democracy was is and will be a lie.. its Mob Rule by mobsters..
Which WHY? american politics (fed,State,local) is a MAFIA..
Not kinda like a mafia but literally IS A MAFIA..
I can only see revolt or States succeeding as the only cure..
Even if States succeed there is still the State and local problem..
The MOBS worldwide are getting organized.. and already are in power in most places.. China URP and Russia is fully connected.. The future looks dicey..
Police chiefs tend to be appointees of liberal mayors. Giving them lavish “retirement” benefits is nothing more than a payoff to their liberal buddies using other people’s money.
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