Posted on 04/30/2013 7:17:52 AM PDT by Texas Eagle
When it comes to public employee pension politics, the Eagles got it right with Hotel California: “You can check-out any time you like, but you can never leave!” The San Jose City Council, facing huge budget deficits tried to honor the will of the people by terminating life-time pension benefits for Council members. But they just learned ending wildly expensive retirement benefits may be wildly more expensive than staying in the plan. The California Public Employees’ Retirement System (CalPERS), which manages most public employee retirement benefits in California raised San Jose’s cost of checking-out of the pension plan by 584%.
(Excerpt) Read more at chrissstreetandcompany.com ...
You could use a bunch of Eagles songs for CalPERS.
“Tequila Sunrise”
“Take It To The Limit”
“Desperado”
I have 13 years into PERS. But, like Social Security, it is a zero in my retirement planning. If it comes through, great -- I can take a vacation every year (even in peak season).
If PERS comes through I'll bank the checks to keep me happy into my 100s. After that and if Mrs. FD passes, the baby elephants get the rest.
Only fools believe in PERS or SS.
The citizens of San Jose should unincorporate. In other words dissolve the city. Then form a “water district” such as many unincorporated communities have here in Texas. And, then contract out to third parties essential services.
It’s the fools funding PERS I believe in. They keep electing the same idiots to positions of power in this state. The fools will keep PERS going until it can’t. That could be awhile as there still is an untapped source of funding waiting to be plucked.....Prop 13 repeal.
Solution: Don’t pay.
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