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A $76,000 Monthly Pension: Why States and Cities Are Short on Cash
NY Times ^ | 4/14/18 | Mary Williams Walsh

Posted on 04/16/2018 4:30:52 PM PDT by Libloather

A public university president in Oregon gives new meaning to the idea of a pensioner.

Joseph Robertson, an eye surgeon who retired as head of the Oregon Health & Science University last fall, receives the state’s largest government pension.

It is $76,111.

Per month.

That is considerably more than the average Oregon family earns in a year.

(Excerpt) Read more at mobile.nytimes.com ...


TOPICS: Crime/Corruption; Editorial; Government; News/Current Events
KEYWORDS: broke; cash; pension; states
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To: Liz

Orange County California lifeguards average $200,000/year

kowabunga dude


61 posted on 04/16/2018 7:08:40 PM PDT by vooch (America First Drain the Swamp)
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To: cicero2k; All

It’s true enough, we should look at all factors. He apparently didn’t get the dough for being an eye doctor. He got it for being the president of a very wealthy university.

Now, whether corporate America ought itself to be that way, is a question for policymakers. Apparently it can be.


62 posted on 04/16/2018 7:13:46 PM PDT by HiTech RedNeck (Tryin' hard to win the No-Bull Prize.)
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To: Vigilanteman

“There is a limit to the ability to tax full time workers grossing $5K or so per month to subsidize pensions of non workers and retirees making many times more, both politically and financially.”

There’s a bunch of disinformation going on in FR that a contract with government employees and a legislature is sacrosanct and cannot be modified. That could not be further from the truth.

A legislature is sovereign. That means it can amend, modify or cancel any law passed by a previous legislature. That includes contracts. If a legislature couldn’t change laws - or contracts - than why have elections?

There’s no such thing as a plenary legislature that can write immutable laws. Period. Exclamation point.


63 posted on 04/16/2018 7:18:12 PM PDT by sergeantdave (Teach a man to fish and he'll steal your gear and sell it)
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To: sergeantdave

At least till a court gets into session. Then mea maximus weirdus.


64 posted on 04/16/2018 7:20:36 PM PDT by HiTech RedNeck (Tryin' hard to win the No-Bull Prize.)
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To: 2ndDivisionVet

Thank you for the update, glad your back home a lot of people Praying for you. You have definitely been missed always kept us on the cutting edge with your postings. Pray you both are getting stronger, that was something I never heard before.


65 posted on 04/16/2018 7:31:56 PM PDT by easternsky
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To: HiTech RedNeck; sergeantdave

That’s exactly what happened in Oregon, the legislature tried to modify the pensions and the Oregon Supreme Court nullified it as unconstitutional ex post facto. So new hires get the new formula calculations and defined benefits, but all the current employees and retirees get their golden parachutes.

Mind you, those judges basically voted to retain their own golden parachutes.


66 posted on 04/16/2018 7:51:24 PM PDT by Valpal1 (I am grown weary.)
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To: semimojo

Private companies also have contracts with pension funds but when they can no longer afford them they are able to declare bankruptcy.
........................................................
And then the PBGC (meaning us taxpayers) picks up the tab.

The pensioners don’t just lose their pensions.
****************************************************
They can, and usually do, lose a large chunk of their pension payments. Research it.


67 posted on 04/16/2018 7:53:38 PM PDT by House Atreides (BOYCOTT the NFL, its products and players 100% - PERMANENTLY)
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To: jazminerose

Because it’s always “for the children”. I left California in 2014.


68 posted on 04/16/2018 8:03:41 PM PDT by funfan
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To: OldMissileer

“Back in 9th Grade I told my American History teacher that government employees actually did not pay taxes and he went ballistic.”

Lol. Kudos to you for figuring that out at such a young age.

I mentioned that same thing, “gov workers are NOT taxpayers” and got the same reaction from my City-employed “friend”.

I still employ it whenever and wherever possible to cause the most anger, provocation, and frustration to any and all fat, lazy, overpaid gov workers I come across.


69 posted on 04/16/2018 8:21:47 PM PDT by JPJones (More tariffs, less income tax.)
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To: 9YearLurker

A simpler solution is to reduce the number of current pensioners. Let that sink in. We already have asset forfeiture, it’s kind of an extension of that.


70 posted on 04/16/2018 9:30:14 PM PDT by D Rider
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To: goldstategop

News flash. Bankruptcy effectively voids contracts all the time.

Still cant get blood from turnips.

Pension finds habe gone broke many times before. Raising taxes to pay outrageous pensions from people who have no pension at all probably cant be done.


71 posted on 04/16/2018 9:32:07 PM PDT by Sequoyah101 (It feels like we have exchanged our dreams for survival. We just have a few days that don't suck.)
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To: funfan

You’re absolutely right. It’s the “for the children” scam. They fall for it every time.

We escaped right behind you in 2015 and headed for East Tennessee. Best decision we ever made.

Where did you flee to?


72 posted on 04/17/2018 12:13:53 AM PDT by jazminerose (Adorable Deplorable)
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To: Libloather

I think that all public pensions systems need to be rolled into SS. All the monies rolled into the SS systems and that they will be paid at the same rate as all other SS citizens.

Now.


73 posted on 04/17/2018 2:19:25 AM PDT by Chickensoup (Leftists today are speaking as if they plan to commence to commit genocide against conservatives.)
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To: fruser1

“Well, he only collects that money for the months in which he’s alive.”

Yes and he only collects it in months that have 28 days in them.


74 posted on 04/17/2018 4:56:36 AM PDT by RipSawyer
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To: topspinr

It did, several years ago. I do not know what is the outcome of that.


75 posted on 04/17/2018 5:21:57 AM PDT by exDemMom (Current visual of the hole the US continues to dig itself into: http://www.usdebtclock.org/)
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To: Libloather

Make all pension payments to $5K per month.


76 posted on 04/17/2018 5:28:55 AM PDT by Cronos (Obama's dislike of Assad is not based on his brutality but that he isn't a jihadi Moslem)
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To: sergeantdave

Yep. He who steals by political organization should expect to get robbed when the worm turns.


77 posted on 04/17/2018 5:38:45 AM PDT by Vigilanteman (ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
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To: Valpal1

“That’s exactly what happened in Oregon, the legislature tried to modify the pensions and the Oregon Supreme Court nullified it as unconstitutional ex post facto.”

Black-robe fascists acting like tyrants is happening with increasing frequency. We have a remedy for that. It’s called impeaching and removing. The problem, of course, is that legislators refuse to use their lawful authority to rein in fascist judges. Why is that? I don’t know.

If this fascist, judicial coup against the peoples’ legislatures continues, I fear that the task to clean up the judicial tyranny will fall to the people. That could get messy. In fact, it will lead to a 2nd revolutionary war.


78 posted on 04/17/2018 5:55:26 AM PDT by sergeantdave (Teach a man to fish and he'll steal your gear and sell it)
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To: topspinr

Yes, and Stockton too!


79 posted on 04/17/2018 6:24:57 AM PDT by thirst4truth (America, What difference does it make?)
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To: jazminerose

We moved to Round Rock Texas. The only thing I miss about the State of California is the weather we get a lot of thunderstorms here which scare me.

Overall we love it here.


80 posted on 04/17/2018 9:56:07 AM PDT by funfan
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