Means Test All Public Sector Employee Pensions

[Traveling_Home]

http://www.msnbc.msn.com/id/38363379/ns/us_news/

As if we don't all know why.....
"Rizzo would be entitled to a state pension of more than $650,000 a year for life, according to calculations made by the Times. That would make Rizzo, 56, the highest-paid retiree in the state pension system."

[Atman]

1. That is an ABSURD pension. There is no justification for this.

None. Nothing justifies an $650,000 lifetime pension. Nothing. Fuck him. Take it back, tax the shit out of it, something, but don't give this prick almost 3/4 million bucks for sitting on his fat ass. It's damned near criminal.

[Lance_Boyle]

2. Interesting idea, but you know it would hurt more 'little people' than Rizzos.

"So I see you inherited some land when your mom died... no pension for you!"

Maybe if you could implement a lower-end cap - means test all public sector employee pensions over $80K/yr...

[Overseas]

4. Exactly. Use the gross example to squash a lot of deserving ones.

And achieve the Republican goal of making millions more people mad at President Obama.

[izzybeans]

3. They were basically stealing from the city with those salaries.

[dkf]

5. No need to means test. Just have a reasonable maximum.

150k tops rising with inflation.

[newtothegame]

6. We can't have our cake and eat it too on this.

We've setup a unionized system in our public employee world to protect all employees, now we're asking the union to disown a certain % of their own? :shrug:

[smoogatz]

7. This guy's management, not labor.

He negotiated that pension on his own--I doubt there was any union involvement. The problem is really that public institutions, including municipal governments, state universities, etc., have adopted the CEO system--where they're willing to make outrageous deals and pay outrageous salaries and benefits in order to hire and retain people with successful track records in administration. The problem is, just like in the business world, most of those hires were promoted past their level or competence two jobs ago, but are extremely skilled at interviewing for jobs and negotiating compensation packages. The more someone in a management position is paid, the greater the likelihood he or she will jump ship in a year or two or three for an even more lucrative offer. It just shouldn't happen--public institution that make these kinds of deals need to seriously re-examine their priorities.

[Riftaxe]

8. Ignore corruption just because they are union members?

I am sure if you track down J. Hoffa Sr. he would be mighty proud of you.

[WinkyDink]

9. This particularly egregious example is no cause for overhauling the pension system.

[JDPriestly]

10. The pension is absurd. But you have to know a little about Bell. California

to understand this.

First, this is being investigated.

The outrageously high salaries and pension benefits paid to the top officials in the city of Bell are being investigated by California Attorney General Jerry Brown and the California Public Employees’ Retirement System.
The investigation will go on to look at other local governments throughout the state.
The Attorney General’s investigation was launched after the Los Angeles Times reported that Robert Rizzo, the Bell city manager, was paid nearly $787,637 a year to manage a city with about 40,000 residents in eastern Los Angeles County.
In addition to the city manager’s high pay, the city’s police chief was paid $457,000, and an assistant city manager got paid $376,288 annually.


http://sacramento.bizjournals.com/sacramento/stories/2010/07/19/daily61.html

But still, Bell is a special case. (No offense to DUers from Bell, California.)

Population in July 2008: 36,657. Population change since 2000: -0.0%



Males: 18,512 (50.5%)
Females: 18,145 (49.5%)

Median resident age: 25.9 years
California median age: 33.3 years
Zip codes: 90201.


Estimated median household income in 2008: $39,394 (it was $29,946 in 2000)
Bell: $39,394
California: $61,021

Estimated per capita income in 2008: $13,244

Bell city income, earnings, and wages data

Estimated median house or condo value in 2008: $428,632 (it was $164,400 in 2000)
Bell: $428,632
California: $467,000

Mean prices in 2008: All housing units: $386,712; Detached houses: $397,117; Townhouses or other attached units: $492,977; In 2-unit structures: $588,075; In 3-to-4-unit structures: $688,954; In 5-or-more-unit structures: $187,086; Mobile homes: $13,894; Occupied boats, RVs, vans, etc.: $15,234


Read more: http://www.city-data.com/city/Bell-California.html#ixzz0uX8fuTZa

OK. So, the estimated per capita income in 2008 was $13,244, and the estimated median house or condo value in that same year was $428,632. This tells you a lot about Bell.

[Hannah Bell]

11. what i can't figure out is where all the money's coming from: small, low-income town.

rizzo's not the only one with an exhorbitant salary; his police chief & other officials are way overpaid v. comparable areas.

& the city council get $100K for parttime work - again, way above the norm.

something wrong here.

[JDPriestly]

12. Something stinks in Bell.

Do you suppose that there might, I say, just might, be corruption in the city of Bell, California?