$3,100 per month for a 19 year retired BUS DRIVER????? Give me a freaking break. I get less than half of that for 20 years in the army, two wars, 9.5 years in Germany, moving my family 18 times.
These municipal pensions are scams that suck the blood out of taxpayers and lead an area to rot on the vine; NJ is being crushed by them, and nobody with a brain would ever open a business here (only to be handed their share of the IOUs for people who retired 20 years ago).
I’ve posted before about the news story (which I’m sure played out over 7 over again across the country) in which current city councils (mostly black) are railing about how much of their current revenues are siphoned off by retirees (mostly white); there is simply nothing left for current expenses. In NJ this is happening between white town councils and white retirees; who would want to live/do business in an area where things are literally falling apart so a cop can retire in his late forties (after stacking his last working years with overtime to generate a six-figure pension)?
I liked the idea in a recent FR story about tying the school district pensions to the financial health of the district itself; the parasites can watch their pensions disappear as their pupils fail to find worthwhile work due to crappy teachers failing to educate them...