CA: Retirement wave engulfs county

Sac Bee ^ | 7/3/03 | Robert D. Davila

[NormsRevenge]

On top of budget cuts, Sacramento County government now faces a "brain drain" as an unprecedented number of longtime employees decide to say goodbye to working and hello to fatter pensions.

Changes that took effect Friday significantly increase retirement benefits for county workers, similar to raises given to state and other local public workers. A recent report on employees over age 50 with at least 25 years of service estimated as many as 900 -- roughly three times the annual average -- will leave in the fiscal year that started Tuesday.

[NormsRevenge]

Gubamint work been verry verry good to me!!

Nothing like a generous employer, huh?

This is your taxdollars, don;t let them try and spin this as healthy for the state or county or local govts.

[proxy_user]

I do not blame the employees for the policies of management. I'm sure many of them are highly competent, and have done a good job at the work they have been assigned.

Whether this work ought to be done by the government is an issue for the voters and the politicians.

Yes, I am aware that these workers probably voted in favor of the programs that employed them, but last time I checked even California did not have a majority of state employees.

[Myrddin]

Most private employers don't offer pension plans anymore. You have to set up your own arrangements and fund them with payroll deductions to take advantage of pre-tax protection of those funds. A few employers are generous enough to provide minimal matching of your own contributions. The most generous example I've seen in 23 years of employment was a 2/3 match of all contributions with a $5,000 annual cap while at PacBell in the 80's. In comparison, my father served for 27 1/2 years in the Navy. He retired at age 47. He's still living on his Navy retirement at age 72. I will probably have to work until that day I die.

[billhilly]

For your father to be able to live on his Navy pension he must have held a very high rank. Military pay was pretty low over twenty years ago, or at least it was when I left the Air Force in 1968.

[henderson field]

It would be interesting to know the amount of individual government pensions. $3000 a month? $4000?

[henderson field]

Private pension plans? I've heard they are less than 30% of the population and that number is diminishing. Because of job changes, layoffs, mergers and corporate bankruptcies, the day of the private pension plan is numbered. But we can all be happy that government pensions are more generous than ever and that we have the opportunity to pay for them.

[truth_seeker]

In my own city, the gubmint employees have fantastic pay, incredible benefits.

And every time budget cutting comes around, the city council stays way clear of reducing rates of pay, or benefits.

Why is this? Because employee unions and associations are MAJOR campaign supporters, even at this local level.

Same for every other aspect of local government (City attorney, school boards).

Huntington Beach, California, population about 200,000.

[MonroeDNA]

There are more government employees in the US than manufacturing employees.

Wealth is created through creativity, and manufacturing.

That means each wealth creator is supporting more than one government employee.

Note: Overseas manufacturing counts, as long as the wealth created is US profit.

[skeeter]

Imagine, IN THE VERY SAME ISSUE another SacBee writer is lamenting the inability of our legislators to raise our taxes.

[Grampa Dave]

This is just one county in California. One can only imagine the early retirements in the other counties.

What business could afford these incredible retirement extras?

"In Sacramento County, the changes allow most workers to retire at age 55 1/2 with 2 percent of their highest annual salary for every year of service, which compares with 1.5 percent previously. Under the new rule, a retiree with 25 years of service would get a pension equal to half of his or her salary.

"The deal is even better for public safety workers, including deputies, probation officers, airport firefighters, park rangers and criminal investigators. Starting at age 50, retired safety employees get 3 percent of their top annual salary per year of service, compared with 2 percent previously.

"Employees also can boost their benefits by buying up to four more years of service credits. In addition, former workers who already were retired will get cost-of-living raises ranging from 1 percent to 6 percent.

Each one of these retirees represents an increasing cost to tax payers of California for each year they are retired.

This is just one of many reasons the rats are against any tax cuts and want to increase our taxes.