Posted on 02/21/2018 1:03:02 PM PST by Kid Shelleen
A former Sanitation Department honcho is pulling in an astonishing $285,047-a-year pension — more than twice what he was making on the job, according to newly released data.
And that’s just one of dozens of huge pension payouts revealed in records published Tuesday by the Empire Center for Public Policy — data that lay bare the city’s insanely generous pension system, the government watchdog said.
“Pensions like these are unheard of in the private sector —
(Excerpt) Read more at nypost.com ...
He worked 60 years! He could have got a pension for more than he was working for, for many years.
In effect, he paid the city to stay on the job for about a decade or two.
Mob relations? j/k
For total disgust, read Plunder: How Public Employee Unions are Raiding Treasuries, Controlling Our Lives and Bankrupting the NationNov 23, 2009
by Steven Greenhut
Same thing happens in CA everywhere. This is what government unions and Democrat politicians do to taxpayers.
OMG!!! OMG!!! STOP THIS MADNESS!!!!
How ‘bout we just get GOVT out of the conflict of interest they call ‘bargaining’.
Where else but govt can the negotiator and the ‘employer’ be the same?
- Terminate public unions
OR
- ‘Negotiate’ using a 3rd party.
- Use real-world figures/averages (be it current private pensions a/o 401K)
- Prohibit unions from ANY access to the pols and their election (no ‘donation’ of $$, time, man-power, etc.)
- Kill of the multi-employment laddering (work one job, retire, hired in another position to bump the $$ payout)
- ??
Course, #1 is optimal. Govt needs to be brought back to the REAL world; not of govt ‘accounting’
I started out in Tier I back in '65, then left the system in '71 to stay home with my second child. We moved to a different part of the State, and when I did finally go back to work for the County I was then living in, I ended up in Tier 3 because I'd been out of the retirement system for more than 5 years. I had to donate 3% of my salary every two weeks to the system for the next 20+ years. I also bought back the previous time I had from '65 to '71. That time would be added on to the number of years I'd worked for the State at my retirement. Around 2000, Carl McCall who had been State Comptroller, introduced a Bill to the State Legislature that provided the opportunity for people who had previously been in Tier I, and had had an interruption in their State service due to specific qualifying circumstances, to apply to be re-instated into Tier I. I applied, and was re-instated, and for the last year and a half of my career, I didn't have to pay into the retirement system. They did however keep the 20+ years of donations I had previously paid into it, which I had no problem with. When I retired, I had approximately 33 years of service. I've been retired almost 15 years, and between my pension and my social security, I'm making almost what I was making while I was working.
I should have gone into garbage.
No sh*t. The private sector has been economically gang banged for the past several decades. And everyone in government has been well aware of this epic double standard.
So what? There was a transient found dead in a downtown LA flophouse theater with over 100k sewn into his clothing. He was always seen smoking cigarette butts off the street and standing in line for meals at the midnight mission. He too was tight as a drum.
So what does that have to do with the government sector economically gang raping the private sector for decades?
The only people from my high school class ..1960 working in NY ...teachers, police and firemen..and they pretty much have all moved out of state..
Seventy five percent moved out of the state to get jobs..at that time Houston Texas was boom town....I went to Colorado
“With a savings rate of 20% or more just about anyone can retire comfortably and some can even get wealthy.”
We did similar. Lived in trailer houses and drove 20 yo cars. I put every possible dime into a 401K and a land investment.
We do not regret it. Making more now than when we worked, nice home on that land is all paid for, new car, new toys and we take vacations. Under the Trump economy, my IRA is skyrocketing.
We all must put away for retirement. It’s the only way to be secure.
I know folks my age that own nothing and thousands in debt. Many are still trying to hold a job in their 70’s with ill health.
none.
Sometimes it makes me wonder how I keep from going under.
Most take their taxpayer funded rich pensions and leave at age 50 or 55 draining the state and taxpayers even further. Boy andy Cuomo hasn't wanted to accept this reality.
I'm saying it doesn't HAVE to be that way to make a decent living after retirement. If a janitor can amass 8 million, anyone can.
You saw what I did there, lol.
Sure buddy, all the janitors I know retire with 8 million bucks. Good grief!
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