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 ...
Nice work if you can get it.
And he’s only 86?.....................
No wonder the pension system is in trouble. Politicians promising union bosses future benefits so the house would crash when they are on the golf course retired in Florid, with all the other NY pensioners..
Corruption!
I remember reading about a laborer who, on his own, put aside money like mad and retired a multi-millionaire.
- Rarely ate out.
- Took in a boarder to help with household expenses.
- Never bought cars new and drove them until they died.
Had a cousin who was a Lt. in the Buffalo Police. Made about $40k a year. After 20 years, retired. In his last year, he worked so much overtime he retired with a pension of $89k/yr.
I have been waiting for public worker pensions in the NYC area to become a national scandal. Hopefully, this is the start.
They need to be cut in half if not more.
Janitors in our local school district - ruined a decade ago by liberal-fantasy busing, so that now every white kid goes to a private school - belong to the AFL-CIO (I believe, or one of the big ones). They sat on their butts while our group rehearsed, but we were charged $1000/ month for ‘their services.’ There was never TP in the bathrooms; floors dirty; things in disarray. I am sure they get these pensions too.
It is so wrong.
I can see how it could happen. They key is low spending, a high savings rate and investing wisely. With a savings rate of 20% or more just about anyone can retire comfortably and some can even get wealthy.
And the librarian in our little town gets $150,000 + we pay 30% more towards the state pension fund so she can retire at a hefty salary. This is happening everywhere, in every government job, even the most local. Turns my stomach.
“If I just got a job, learned to be a street sweeper. “
I tried to get a job in the post office for 30 years. Finally gave up when a friend of mine told me that white males over the age of 36 will never get a job in government.
Oh maybe the janitors are in the SEIU.
When politicians want to buy votes from government workers they don’t care how much they cost.
Best movie and sound track ever!
He worked 60 years for the same outfit - far longer than most employees anywhere; and in investing “time is money”. In addition to the compounding effects of earnings, he had contributions piling up for sixty years. Yea, the basic benefit calc itself is likely generous, but all those years - 60 - compounded just how generous it was.
In order to crimp some of the tier 1 pensioners from being as “blessed by the system” as this guy was, they’re going to have put in a mandatory retirement rule set not by age alone, but by age OR 25/30 years in the pension system already. Call it an “out by 30” rule. And set it for whichever comes sooner - age 65 or 30 years in the system.
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