Posted on 08/24/2009 1:34:16 PM PDT by buzzyboop
When it comes to municipal pension plans, Pennsylvania is king.
Pennsylvania has four times more pension funds than any other state, and more than one-fourth of all the municipal pension plans in the country, according to the Public Employee Retirement Commission, an agency that advises the Legislature on pension issues and oversees the soundness of local plans. The number of local plans is growing by about 30 a year.
Most of the 3,100 retirement systems, for police, firefighters or nonuniformed workers, are small. That's costly for members and taxpayers. Of 2,462 that reported administrative expenses, the cost was $36 million, or $509 annually per member.
The cost per member is $1,519 for administrative expenses for plans with fewer than 10 members, the retirement commission says, and 67 percent of Pennsylvania's local pension systems are that small.
(Excerpt) Read more at pittsburghlive.com ...
The cheapest seats for even pre-season games are $50. They consistently fill nearly all 65,000 seats. The Rooneys have always managed to play the city government for fools because they are fools. Even when the liberal taxpayers voted down the funding of the stadiums, the city managed to find a way to build them anyway.
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