Broke L.A. Cuts Million Dollar Checks to Cops and Firefighters

Truth Dig by Peter Z. Scheer

A little-known pension scheme in the City of Angels lets public safety workers double-dip at the taxpayers’ expense.

The Deferred Retirement Option Plan allows longtime police and firefighters who game the system right to retire with lump sum payments that average around $300,000, but go as high as $1 million. This in a city that is running at least$150 million in the red.  

Voters in L.A. recently rejected a half-cent sales tax increase that would have helped reduce the city’s budget deficit.

http://www.truthdig.com/avbooth/item/broke_la_cuts_million_dollar_checks_to_cops_and_firefighters_20130322/

One thought on “Broke L.A. Cuts Million Dollar Checks to Cops and Firefighters

  1. “The Deferred Retirement Option Plan allows longtime police and firefighters who game the system right to retire with lump sum payments that average around $300,000, but go as high as $1 million”

    Once the SHTF, we’ve got a MUCH better retirement plan in mind (at least for the cops).

    A PERMANENT retirement plan.

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