"You f'd up, you trusted us."
Posted on 01/12/2018 6:04:54 PM PST by BackRoads775
Public employees in California may have their pension benefits slashed due to the rollback of a longstanding rule in the state, Gov. Jerry Brown revealed in a recent budget briefing.
The California governor revealed that he has a “hunch” legal proceedings could pave the way for cuts to public employees’ benefits.
“There is more flexibility than there is currently assumed by those who discuss the California rule,” Brown said during the briefing.
(Excerpt) Read more at westernjournal.com ...
To your point, I’m pretty sure there was a court case in CA a few years back when Grey Davis was gov or soon thereafter, whereby someone accused and proved workers were gaming the pension benefits through some back door method. I think it amounted to close of 100 million of benefits involved. The suit attempted to reduce the benefits back to the legal level.
IIRC, the court agreed that there was wrongdoing and benefits were augmented but it ruled against making it right. The CA court basically said that once those benefits were awarded, no matter why or how, it became an obligation of the state and the employee is entitled to it.
Rational people were absolutely dumbfounded.
I think a similar thing happened with the energy contracts where again, Grey Davis Davis bought power at crazy high rates on the open market since the California power companies were technically bankrupt and had no buying power. California agreed to pay like 50 billion for power over the following 30 years regardless. Someone sued and it was proven that Davis raped CA, but the courts said too bad. It’s one of the reasons CA has the highest energy in the country today.
The democrat party makes promises, they get votes then after the American people are of no use anymore they bring in illegals who are desperate for taxpayer money and will vote multiple times in elections for their masters. The democrat party takes away the promised money for the next group of suckers.
"You f'd up, you trusted us."
I definitely have an issue with anybody gaming the system. That it was considered an obligation is ridiculous.
And I definitely remember the Grey Davis energy fiasco but forgot about it until you brought it up.
Thanks for the info!
tagline change
The state will have the most and then LA county. Not necessarily cops. Drs and scientists will lead. We need to tier the system and get the money away from serving illegals.
Please stop calling them workers. It makes it sound like they accomplish something useful.
Wasn’t that long ago that they were the 5th largest economy in the world...
Definitely popcorn-worthy. ☺ ☺ ☺
Cry me a freakn’ river.
Here's a bucket, start bailing.
Over time pay is Not calculated into PERS retirement compensation, vacation days accrued at time of retirement are either cashed out at that time or must be taken prior to retirement at the standard rate of compensation for that number of hours/days accumulated.
Only unused sick leave hours/days can be added to total retirement compensation, and it’s prorated at, if I recall correctly about 0.035% per day earned.
But you are right about some outrageous amounts of some retirement packages, that’s usually city workers,county workers, and school superintendent packages.
Not your average school district employee.
Mine is about 42,000 a year after 38 years.
I was smart enough way back when to open several alternate retirement accounts and other investments and put every raise I ever got into them, had to live kind of close to the bone back then but it is paying off now.
I have still never owned a new car or truck.
NOT ALL OF US.
Those are the types of people who need to be gone after, and there are lots of them out there.
Knew a Pasadena cop who did that back in the 70’s, also claimed a back injury.
That didn’t seem to stop him from cutting, splitting and stacking fire wood on his “ranch”,I think he was like 32 years old.
You seriously believe extreme pension payouts are non-existent?
Gotta love Vlad Tepes, Prince of Wallchia.
Respectfully, here is the most powerful state in the congress. When the nation elects another rat (and they will eventually) the left will vote themselves money to pay for their own mistakes.
>> Public employees in California may have their pension benefits slashed
Federal and state employment must be treated as an obligation to the taxpayer, and not a lifelong security at the taxpayers’ expense.
A significant part of the problem is that many of these states over estimated the annual returns on investment in their pension funds. This allowed them to reduce their contributions and use the difference to fund social schemes like the railway to nowhere in California. Those responsible have or will retire with fat pensions and don’t care when it falls apart.
In general, it is best to avoid that loony bin.
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