MoonbatteryLiberalism often works by starting with an arguably good thing and taking it to such an extreme that it becomes pernicious. Public sector pensions are a prime example. Few would deny retired police officers either a pension or a savings plan. But in liberal states greed has gotten completely out of control. From Ventura County, California:
[F]ormer Sheriff Robert Brooks … retired in 2011 with a salary of $227,000. Today, he collects $50,000 a year more than that [$276,000], with guaranteed cost-of-living increases. But that wasn’t enough. Now he’s suing for $75,000 more, claiming it’s allowed under the law.
Finally the public is putting up some resistance.
Ventura County voters will consider an initiative in November, similar to a possible statewide measure, that would funnel all new employees into a 401k savings plan rather than a pension. It would also, like an initiative passed in San Jose, give current employees a choice — either increase their contributions or cut future benefits. …
Unions, as might be expected, oppose the measures.
Brooks’s case is hardly unique. Left-wing bureaucrats have turned the pension system into a looting spree.
An analysis by the Los Angeles Times found 84 percent of the roughly two-dozen Ventura County retirees with pensions in excess of $100,000 made more money in retirement than working.
When chief county executive Marty Robinson left in 2011 making $228,000, his annual pension totaled $272,000.
Their packages are emblematic of what critics consider a runaway pension problem.
The chief executive of Solano County retired with a $371,000 pension. A police chief in Stockton left with a $204,000 annual pension after just eight months on the job. An Orange County attorney retired with a pension of $226,000 — $14,000 more than his final salary. He also got a check for $352,097 for nearly 2,500 hours of unused sick and vacation time.
In California, 20,000 employees have pensions in excess of $100,000.
No wonder the state has a $500 billion budget shortfall, with wealth producers leaving the state by the hundreds of thousands to escape the excessive taxation.
On a tip from Wiggins.
This article doesn’t even allude to a small percentage of the problem here in California – Studies have started to appear, wherein lower ranking cops (on average) are able to get/claim/cause, or alledge a “disability” (usually within 7 yrs) and “retire” at full++ pay for the rest of their lives – these “retirements” are un-taxed and “un-restricted” (the recipient can [in most cases] go right back to work somewhere else)????
Most of the major cities in California now pay more than twice for their cops – as in half of the money spent (police budget + police retirement costs) goes to those cops that used to be there – and the math is on a sky rocket course that would make Charles Ponzi jealous
cant wait until all these blue coats realize their pensions are not secured, are underfunded and chances are not even going to be there for them due to the fact all the cities they work for are broke, because of the political scum that these traitors protect
hey poetic justice if you ask me, careful whos back you have..because they are F-ing you right in front of your own eyes, and now you are all being seen for what you are, punks on a power trip, and when the public has had enough there will be no sympathy and no one to have your filthy backs
You may be on to something Bart – its starting to appear that Detroit (et al) is going through just that – as in: the pensions are, in fact, backed (only??) by the full faith and credit of that City (etc., etc.)
Here in California they have a very large pension system called “CalPers”, historically thought to be vertually impervious to failure – Well, guess what: just in the last few months there are starting to appear a couple of cracks in the “it’ll NEVER fail” dam of good ole CalPers – Stay tuned :: More City bankruptcies coming to a theater near you!!
“[F]ormer Sheriff Robert Brooks … retired in 2011 with a salary of $227,000. Today, he collects $50,000 a year more than that [$276,000], with guaranteed cost-of-living increases. But that wasn’t enough. Now he’s suing for $75,000 more, claiming it’s allowed under the law.”
Don’t worry, @sswipe.
WE, THE PEOPLE have a retirement plan in mind for you and your kind, and it won’t cost you a dime.
AND it’s permanent. 😈