Pension Reform -- at last!
Original post made by taxpayer on Jun 6, 2012
There will be required payments into the pension by employees, no more free medical benefits for life and no more abuse of the disability retirements. Until now, cops and firefighters could retire on a disability if they were unable to do their CURRENT job. Now they have to actually be disabled to get the benefit. These scam disability retirements not only cost taxpayers up front, but under CA law the pension remains tax free for life. They retire at age 50, get 90% of their final earnings plus 3% raises for life, and they pay no taxes on it. Yup, that had to go.
We need major reform to all public pensions. The taxpayers have paid enough. These people no longer work for less wages than private industry, they work for significantly more. They cannot expect the public to pay for huge pensions on top of that. 3% at 50 has to go! 2% at 65, if and only if, the employees make their own pension contributions. And don't cry that we will not have anyone wanting to be cops or firefighters. Announce a test under the new rules then stand back while they stampede to get the jobs.
on Jun 7, 2012 at 12:31 am
When is Pleasanton going to start reforming their pension system? How can we continue to fund outrageous pensions of $150K+ per year? Do you know how much $$ it takes to build up a nest egg capable of paying you $150K in retirement income? For a 30 year career, it's over $45K/year you must save with a 5% return per year. I'm sure these city employees are putting nothing close to that in as their contribution.
This needs to be reformed like San Jose - if folks want these Cadillac pensions, they need to contribute signficantly more.
on Jun 7, 2012 at 6:53 am
I work much harder for my 32K than any of our incompitant union public school teachers who work half daze and half year's for there 125K. And what do we get for it? More unfounded liabilities and unsustainable futures. If they want a pension paid for by real Americans, let them work for them, stand up to being fired, and pay for them themselves.
on Jun 7, 2012 at 8:07 pm
Unfounded liabilities? Really, is that what they teach you in union controlled schools?