Blue State Blues: Some L.A. Pensions Exceed $220K IRS Limit

[Weatherman2020]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

 

[Harpy Eagle]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

 

[Weatherman2020]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

Fled Taxifornia this year and enjoying the life. Only regret is not doing it 30 years ago.

 

[Claudette]

WOW wonder if the tax payers know how much they are paying in retirement benefits??

Good Lord $220,000,00 a year for retirement??

 

[Weatherman2020]

WOW wonder if the tax payers know how much they are paying in retirement benefits??

Good Lord $220,000,00 a year for retirement??

My favorite: $14.6 million to 110 retired employees since 2010

 

[Harpy Eagle]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

Fled Taxifornia this year and enjoying the life. Only regret is not doing it 30 years ago.

So, why are you still whining about the state so much?

 

[CrusaderFrank]

Pensions and union labor also explains why NYCHA is so rundown.

 

[Weatherman2020]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

Fled Taxifornia this year and enjoying the life. Only regret is not doing it 30 years ago.

So, why are you still whining about the state so much?

I can understand why you don’t want people to know what happens when the Left take power.

 

[Weatherman2020]

Pensions and union labor also explains why NYCHA is so rundown.

Yep. No funds to fight crime, care for the homeless etc. Have to pay pensions.

 

[Harpy Eagle]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

Fled Taxifornia this year and enjoying the life. Only regret is not doing it 30 years ago.

So, why are you still whining about the state so much?

I can understand why you don’t want people to know what happens when the Left take power.

The "left" has had power in LA for a long fucking time, this is not news to anyone with a brain.

Most of us do not whine about states we do not live in...but I guess you have more free time on your hands than we do

 

[Weatherman2020]

One day people are going to clue in on what’s happening to their money and it ain’t going to be pretty.

Some L.A. pensions are so huge they exceed IRS limits, costing taxpayers millions extra.

Dozens of retired Los Angeles employees are collecting such generous retirement pay that they exceed pension fund limits set by the Internal Revenue Service, saddling taxpayers with additional costs, a Times data analysis has found.

Their lavish pensions forced the city to establish an “Excess Benefit Plan” to pay what the pension system cannot legally cover, using money that could otherwise be tapped to fix sidewalks, fight homelessness or hire more cops.

In all, the little-known fund has paid $14.6 million to 110 retired employees since 2010, The Times’ analysis showed.

The list of recipients is dominated by former cops and firefighters whose million-dollar payouts from a separate retirement program drove their incomes well over the $220,000 annual limit the IRS allows pension funds to pay.

Tell us again why you continue to live there?

Fled Taxifornia this year and enjoying the life. Only regret is not doing it 30 years ago.

So, why are you still whining about the state so much?

I can understand why you don’t want people to know what happens when the Left take power.

The "left" has had power in LA for a long fucking time, this is not news to anyone with a brain.

Most of us do not whine about states we do not live in...but I guess you have more free time on your hands than we do

Yes, 50 years ago L.A. was a nice town people wanted to move to. Then Democrats began to control everything.

Understandable why you are terrified people know what Democrats do.