Dozens of L.A. Pensions Exceeding IRS Limits, Costing Taxpayers Millions Extra

KTLA ^

[BenLurkin]

heir lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

[Jeff Chandler]

And?

[Liz]

CALI FIREMAN POCKETS ANNUAL MILLION DOLLAR PENSION A
Los Angeles fireman retired in his 50s with a pension of over 1 million dollars per year with lifetime medical benefits.

Job Title: Assistant Chief---Retired 2010---Years service 32

Rec'd from L/A Fire and Police Employees’ Pension Fund 2015: $1,164,022.65 annual

Lifetime Health Benefits $17,286.69 annual (Excerpt) Read more at breitbart.com ...

[SpaceBar]

Costing Taxpayers Millions...

That was the plan Stan.

[wally_bert]

Gage and DeSoto would live pretty well if they retired now.

[Dogbert41]

So how many taxpayers fund his, and his alone, retirement while they have only a bankrupt SS?

This is simply what happens when a Republic becomes a democracy.

[HighSierra5]

Oh well, another day in commie land.

[Retvet]

More political coruption. No surprise coming from California!

[PIF]

Some Milwaukee city bus drivers were reported to have earned over $200K a few years back.

[artichokegrower]

Earl C Paysinger
Title: Deputy Chief
Employer: POLICE
Pension: Los Angeles Fire and Police Employees’ Pension, 2016 33.0 2011 $1,473,823.20

Emile W Mack
Title: Assistant Chief
Employer: FIRE
Pension: Los Angeles Fire and Police Employees’ Pension, 2016 32.72 2011 $1,457,638.62

Donald L Frazeur
Title: ASSISTANT CHIEF
Employer: FIRE
Pension: Los Angeles Fire and Police Employees’ Pension, 2017 33.0 2012 $1,397,892.77

Work for the city and retire a millionaire.

[fruser1]

So, since he’s in his fifties, if he dies this year it saves the country over 30 million.

[combat_boots]

I am REALLY in the wrong business.

[Revolutionary]

In other words they are breaking the law by creating this “special fund” when in fact it is really part of the pension funding. Just another pot. They are just rearranging the deck chairs.

[MrEdd]

Fort Worth to follow...

[forgotten man]

Don’t worry. This is what the California green house taxes and highway taxes on gasoline are really for. These taxes can be used for “other lawful purposes” as proscribed in the law passed by the union lackeys in Sacramento.

[Nifster]

$220,000 a year pension???? Ain’t no one worth that

[ronnie raygun]

Not to say this is at all right but At least they get up for work everyday, what about the cost of all the illegals and their generations living nicely.

[Sequoyah101]

I don’t understand the notation of 2016 and 2011.

For example: “2016 33.0 2011 $1,473,823.20”. What does this mean that he got a lump sum in 2011 and only $33 in 2016?

[ridesthemiles]

Brenda Snipes-—The Florida Elections official who couldn’t count ballots correctly will be drawing $106,000 per year.

[artichokegrower]

He retired in 2011 after 33 years his annual pension is $1,473,823.20.