Wyatt earp
Diamond Member
- Apr 21, 2012
- 69,975
- 16,382
- 2,180
Gotta love the scam of Public unions ..they going to implode..
It's funny how liberals on here talk about climate change , the debt and cry about their children and grandchildren having to pay for it but never mention this scam
When city retirement pays better than the job
When city retirement pays better than the job
One in four El Monte residents lives in poverty. Yet taxpayers pay a steep price to fund bonus pensions and other perks for city workers.
The retired city manager of El Monte collects more than $216,000 a year, plus cost-of-living increases and fully paid health insurance.
“It’s giving me an opportunity to do a number of things I didn’t get to do when I was younger, like travel to Europe, take some things off my bucket list,” Mussenden, 66, said recently. He even flew to Scotland to play the famed Old Course at St. Andrews, a mecca for golf enthusiasts.
Mussenden recognizes that few Americans have pensions anymore — least of all the El Monte taxpayers who are funding his retirement. So while he enjoys his monthly retirement check, he’s discreet about it.
“The guys I play golf with, they get very angry about my pension because they don’t have anything like it,” he said.
Actually, Mussenden has twopensions. He’s part of a coterie of former El Monte civil servants who receive one taxpayer-funded pension through the California Public Employees’ Retirement System (CalPERS) — and a second through a “supplemental” plan approved by the city council in 2000.
The extra pensions, along with other sweeteners granted to El Monte employees over the years, have created one of the heaviest public pension burdens of any city in California, a Los Angeles Times investigation found.
El Monte’s retirement costs totaled $16.5 million this year. That’s equal to 28% of the city’s general fund. Among California’s 10 largest cities, only San Jose paid as much toward retirement costs relative to its general fund. Los Angeles spends 20% of its general fund on retirement costs.
El Monte’s outsize pension bill weighs heavily on the San Gabriel Valley city of 116,000, where half the residents were born outside the United States and a quarter live below the poverty line.
The idea for the supplemental plan arose in 2000, after the city council granted El Monte police officers the right to retire with up to 90% of their highest salary guaranteed for life.
The state and many other cities had approved similar benefits for public safety officers, part of a wave of pension enhancements adopted when pension funds were flush with cash from a stock market boom.
But it created a gap between El Monte police and the city’s non-uniformed employees: Under CalPERS rules, civilian pensions were capped at two-thirds of final salary
It's funny how liberals on here talk about climate change , the debt and cry about their children and grandchildren having to pay for it but never mention this scam
When city retirement pays better than the job
When city retirement pays better than the job
One in four El Monte residents lives in poverty. Yet taxpayers pay a steep price to fund bonus pensions and other perks for city workers.
The retired city manager of El Monte collects more than $216,000 a year, plus cost-of-living increases and fully paid health insurance.
“It’s giving me an opportunity to do a number of things I didn’t get to do when I was younger, like travel to Europe, take some things off my bucket list,” Mussenden, 66, said recently. He even flew to Scotland to play the famed Old Course at St. Andrews, a mecca for golf enthusiasts.
Mussenden recognizes that few Americans have pensions anymore — least of all the El Monte taxpayers who are funding his retirement. So while he enjoys his monthly retirement check, he’s discreet about it.
“The guys I play golf with, they get very angry about my pension because they don’t have anything like it,” he said.
Actually, Mussenden has twopensions. He’s part of a coterie of former El Monte civil servants who receive one taxpayer-funded pension through the California Public Employees’ Retirement System (CalPERS) — and a second through a “supplemental” plan approved by the city council in 2000.
The extra pensions, along with other sweeteners granted to El Monte employees over the years, have created one of the heaviest public pension burdens of any city in California, a Los Angeles Times investigation found.
El Monte’s retirement costs totaled $16.5 million this year. That’s equal to 28% of the city’s general fund. Among California’s 10 largest cities, only San Jose paid as much toward retirement costs relative to its general fund. Los Angeles spends 20% of its general fund on retirement costs.
El Monte’s outsize pension bill weighs heavily on the San Gabriel Valley city of 116,000, where half the residents were born outside the United States and a quarter live below the poverty line.
The idea for the supplemental plan arose in 2000, after the city council granted El Monte police officers the right to retire with up to 90% of their highest salary guaranteed for life.
The state and many other cities had approved similar benefits for public safety officers, part of a wave of pension enhancements adopted when pension funds were flush with cash from a stock market boom.
But it created a gap between El Monte police and the city’s non-uniformed employees: Under CalPERS rules, civilian pensions were capped at two-thirds of final salary
