Posted on 12/04/2017 6:26:37 PM PST by 198ml
Despite facing a shortfall of about $70 billion, Pennsylvania's public-pension systems lavishly enrich a few former state employees while most get far more modest payouts. Consider some pension-data findings from The Philadelphia Inquirer and Philadelphia Daily News.
The average 2016 payout to Pennsylvania's 127,000-plus former employees or their beneficiaries was $27,722. But a separate class of Keystone State pensioners get checks that alone put them among the top tier of all income earners nationwide: Twenty collect more than $215,000 annually, while 500-plus collect $100,000 or more.
Even after pleading guilty to child endangerment in the Jerry Sandusky pedophilia scandal, former Penn State Vice President Gary Schultz collects $330,699 annually. But even big-bucks public-pension recipients untainted by criminal disgrace surely leave a bad taste in the mouths of taxpayers.
That's because they fund the salaries that combined with such factors as service time and highest average salary over a three-year span produce outrages such as former Penn State President Rodney Erickson's $477,590 annual payout. As the Commonwealth Foundation's Rick Dreyfuss says, If you don't manage the base pay, then the whole thing is going to continue.
(Excerpt) Read more at triblive.com ...
This is the sad story in Illinois as well. Until this is under control there will be no reasonable budgets adopted.
Not possible. The system is set up by socialists, so all recipients get exactly the same payout. Or am I missing something?
I guess you never got the message...some are more equal than others.
What the bogus headline grabbing article its pathetixc in its lack of all information. Example
In my city where I had the privilege of being a pension trustee for 2 terms ( 8 years ) and heres the truth
1 city pension plan members only donate 4%
in a management they only contribute 7%
My Fire Dept donated 11-13%
My Police Dept donates 13% of all there salaries to there pension plan
Now you tell me why should group 1 get the same pension as a Policeman???? get real in life you put down to expect to pick up....Its really that simple....
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