Posted on 04/16/2019 9:40:55 AM PDT by outpostinmass2
Nearly one-third of the employees who retired from the MBTA last year were under the age of 55, and dozens were still in their 40s, adding to the flow of younger retirees state lawmakers had hoped to stem years ago.
The Legislature passed a law in 2009 intended to dial back a lavish public sector perk at the Massachusetts Bay Transportation Authority, but because it only applied to new hires, many employees retiring now still fall under the old rules — and potentially collect pensions for longer than they actually worked at the T.
In all, nearly 200 employees retired from the transit agency in 2018, according to a list released by the MBTA Retirement Fund in response to a Globe request.
(Excerpt) Read more at bostonglobe.com ...
Many places you can retire with an age + years deal. Of course, if you’re under 60, you take a reduced amount so it evens out in the end.
What a shameless racket.
But, but, but, but it's public service, you know. They are the most honorable among us.
And many of them likely move into another civil-service job and double-dip, retiring with an income several times the average wage of their area
How about, you can retire at an early age but you cannot receive a pension until age 65?
In a way, it seems like a form of extortion.. legal yet.. and who knows how to extort better than politicians and union officials? jmo
“Public servant”
They serve themselves to the public trough.
Don’t like working into your sixties to pay for pensions of these gold brickers? Just shut up and eat your dogfood.
They chose to work there. It always makes me wonder why people are so jealous as if they didn’t have choices.
Run for office and use that as your platform.
Even worse, they take that pension and move to somewhere like North Carolina and don't pay taxes back into the system, so it's a total loss to the state economy.
Pay people not to work, sounds sustainable. /s
Politicians are politicans first and at their core are idiots who can be sold anything by the bureaucrats who lead them.
It is simply criminal for anyone to retire at 55. It is economically practically unsustainable. It is surely outrageous to expect the public or anyone to support someone from that time until they die without deeply discounting the benefit for the accelerated payments.
Life is great for public empooyees. It is a lifetime of pay and pay and pay for the tax payers.
Works for North Carolina. Though they probably vote Dem.
Most public pensions do NOT need to follow the regulatory and audit provisions that corporate pensions do. They do not issue reports on performance, nor disclose returns or fees paid.
Most public pensions are managed by a mix of political appointees, their cronies and Wall Street sharks
Its a recipe for immense theft, malfeasance and political corruption.
YOU will someday need to bail them out.
We now have a "County Executive" running Macomb County here in S.E. Michigan. The guy's name is Mark Hackel and he was a Democrat elected to the new office back in 2011.
He was the County Sherriff who retired after 30 years svc then ran for Executive position.
Hackel will receive $590,000 in pay and pension benefits in 2011 after he retires as sheriff Saturday and serves his first year as executive. Under information obtained by The Macomb Daily through the Freedom of Information Act, Hackel will receive a lump sum pension payment of nearly $376,000, a monthly Sheriff's Department pension of $6,240 -- more than $74,000 a year -- and an annual executive salary of $139,000. After working for nearly 30 years at the Sheriff's Department, Hackel said he is simply collecting the retirement benefits offered to him through negotiated labor contracts
“YOU will someday need to bail them out.”
Here in Illinois someday is today.
L
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