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Pension bill loophole enables more spiking !

Original post made by Anti-union on Aug 31, 2012

Our predictably lousy Legislature is ramming through a socalled 'reform' bill, under the pretense of righting wrongs. Instead, a missing word would actually enable more spiking. The bill would greatly expand the number of workers who could boost compensation by counting unused vacation time in pension calculations.
Daniel Borenstein had another of his pension articles on the front
page of this morning's Valley Times.
The loophole doesn't alter CalPERS, but does affect 20 counties with their own pension systems, such as ALAMEDA and ContraCosta who build up retirements by several hundred thousands with unused vacation and sick leaves.
Late Thursday, some lawmakers said they would work to correct the error. We'll see if they do.

Comments (10)

Posted by Cholo, a resident of Livermore
on Aug 31, 2012 at 1:08 pm

sometimes i sleep in until about 9am! i enjoy a light breakfast, tea,
fresh fruit and yogurt. i make my own yogurt.

my garden is so beautiful right now...lots of veggies, i especially love the home grown lettuce.

oh...and when i read this blog and delighted that i played my cards rights so i can take care and enjoy life! HOORAY!

someday nobody will receive a pension...terrible

Posted by Cholo, a resident of Livermore
on Aug 31, 2012 at 1:14 pm

my advice for those of you that plan to stick it out for a pension, is that you ALWAYS GIVE YOUR EMPLOYER AT LEAST A 50% RETURN ON HIS/HER INVESTMENT!

tee hee...

Posted by responsible adult, a resident of Another Pleasanton neighborhood
on Aug 31, 2012 at 2:17 pm

How about looking out for your own retirement (after all, it is in your best interest) by opening a 401k or self directed investment /savings account and stop relying on someone else to save for your retirement? If you're expecting cradle to grave support, you need to seek out a (more) socialist type of environment to live in.

Posted by Cholo, a resident of Livermore
on Aug 31, 2012 at 6:49 pm

I've lived comfortably thanks to the socialist environment that you're referring I said, ALWAYS GIVE YOUR EMPLOYER AT LEAST A 50% RETURN ON HER/HIS INVESTMENT! HOORAY FOR RETIREMENT! IT WORKS!

Posted by Not surprised, a resident of Another Pleasanton neighborhood
on Aug 31, 2012 at 7:05 pm

Cholo is on a government pension so he wants more not less regardless of what it means for others.

Posted by Cholo, a resident of Livermore
on Aug 31, 2012 at 8:00 pm

Tell the're a jealous bug!

I worked hard and it paid off! I ALWAYS and I MEAN ALWAYS, gave my employers at least a 50% return on their investment.

How come so man folks are jealous that some of us kept a low profile, took advantage at every turn, and got what we wanted? When some of my senior pals get together, we always tell stories of how we clever we could be!

For some of us, it was waaaaaaaay fun...I'm one of the few folks that loves to embellish certain stories, my goodness, we even took 3-4 hr. lunch breaks when it rained! I was such a nice day today.

Posted by Double Blind, a resident of Another Pleasanton neighborhood
on Aug 31, 2012 at 8:47 pm

Loopholes? What are you talking about Cholo, I learned from the best- big business/the private sector. The one people seem to think should be our next president! The masters of loopholes.

Posted by Anti-union, a resident of Another Pleasanton neighborhood
on Aug 31, 2012 at 11:46 pm

Loopholes are what's in today's faux penion repair bill.
CPAs following the US tax code are just following the tax code.
True it does need to be rewritten. The code was mostly written by Chairman of House Ways and Means DEM Congressman Dan Rostenkowski, who was a crook and went to prison for his shady activities. The all DEM neighborhoods and streets in that district have been in hand of Dems, Rostenkowski, Obama, Rahm Emanuel, and Blagojevich, also in prison. Political community organizers in that area make their own rules. The Chicago, Cook COunty, has been most corrupt district for decades. It is time for Rosty's tax code to be overhauled. But it's what we have, and can't use anything else. Law requires that you must use those tax codes. You and your neighbors pay CPAs to put your numbers on the suitable schedules. It's too bad when Obama had his own Congress, led by Ms Pelosi, that they didn't use the opportunity to rewrite the tax code.

Posted by Cholo, a resident of Livermore
on Sep 1, 2012 at 4:01 pm

There are always loopholes to explore! Not only is finding the loopholes waaaaaay fun but it tickles me no end that some employees find them and take a stretch. As long as an employee gives back at least a 50% on her/his employer's investment, what's the problem? can't be a shrinking violet and outslick your employer.

If you're so far out and don't have a clue, how come you get angry that some employees are around who can figure out movidas and out slick their employers? It seems to me that the anger is unjustified. Some of you think that just because you employ a few accountants and bookkeepers that they will cover you? NOT!

They're the biggest crooks. They can fake-out an employer and make it appear that some sad sack by the name of DUMBO did it!

I know a few seniors that are waaaaaay slick and do they like to talk about their adventures in corporate America? yup...and there are retired senior's like myself who love to hear the stories.

This is a tough world and if something funny comes along, what's so bad about talking about it? nada...

Posted by Cholo's Uncle, a resident of Downtown
on Sep 4, 2012 at 5:05 pm

I love retiring on the taxpayer's dime ... it is sweeeet ... spiked it to the Maaaaaxxx!... I'm in the $100,000 club and lovin' it

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