I REPORT, YOU DECIDE-BY BARRY LEVINSON
Barry Levinson
This is according to an article written by Robert Fellner on July 20, 2014.
The reason all taxpayers should be outraged by the final percentage of retirement income vs. final pay for OCERS retirees is simple.
The taxpayer cannot afford to pay these public servants that kind of retirement money.
It may be called a pension, but in reality part of it is simply welfare created by the unions’ cozy relationship with so many of our elected officials.
A pension benefit should be earned and paid for by the contributions of the employees with a matching contribution by the employer/taxpayer and nothing more.
… MEANWHILE BACK ON THE RANCH, AS THE LEVELS OF UNFUNDED LIABILITIES HEAD INTO ORBIT. …..
BOTH FJ.U.H.S.D.’S DR. GEORGE AND N.O.C.C.D.’S DR. NEDDY WANNA FLOAT SOME 1.5 BILLION IN DEBT BONDS TO KEEP THE PARTY GOIN’
As someone who has studied and worked in the financial field my entire life, I wish there was a financially prudent way to afford these lavish pensions. There is only one way to do this and that would be to have each and every public employee pay at least 30 – 50% of his or her gross salary into the pension fund. Of course that will never happen but that is exactly what we the taxpayer’s are facing now or will face in the near future without a major reduction in public retirement benefits.
WILL THIS BE THE THE NEW LOOK FOR DOWNTOWN SOMEDAY AFTER WE ARE BLED DRY?
For instance, in 2012 I reviewed the employer cost for the Fullerton, California safety workers (police and fire). The employer portion (which in public service means the taxpayer) was scheduled to be over 40% and rising. This is not fair to the taxpayer. Most of the taxpaying public makes less in salary than our police and fire employees, and could only dream of getting any pension let alone 88% of final salary.
KEEP YOUR HANDS WHERE WE CAN SEE THEM.
Let me state something plain and simple. Those public union bosses are self-centered, selfish people who do not really care about the financial well being of all those taxpayers who have paid for their incredibly generous benefits and very healthy salaries as well.
PLEASE MISTER PLEASE, DON’T PLAY BE 17, I DON’T EVER WANT TO HEAR THAT SONG AGAIN.
The question that must be asked is the following:
FPD’s Internal affairs investigator Schoen breaking out the bong just in time for the din din bell in front as 100 elementary schoolers look on.
TACO TUESDAY AT CITY HALL
When will those public employee unions stop their conflict of interest campaigns of supporting only agreeable candidates for office—
JENNIFER FITZGERALD
Fullerton Mayor Doug Chafee
Jan Flory
-and start acting like true public servants who actually care about the communities they are supposed to serve?
Road repairs? Come back next year after we three vote to put in the 8 story housing units all over every last commercial property left in Foolerton and the C.O.I.N. provisions on audits have expired.
#1 by NJ Will Default on Govt Pensions on August 1, 2014 - 6:50 am
New Jersey Will Default on Government Pensions
Written by Gary North on July 31, 2014
State by state, county by county, city by city: they will default. The money is not there. The promises were huge.
New Jersey’s governor Christie is touring the state, telling the voters that the state will break promises to retired government workers. He is doing what other government officials refuse to do: tell the truth early.
The public employees were told to trust the state. Silly people. They believed the promises: above-market salaries, tenure, and fat retirement benefits, including health care. Now fiscal reality is intruding. This has barely begun.
A few New Jersey retirees are protesting. These protests will do no good. You can’t extract income out of a state that is over-taxed, over-regulated, and running deficits. The gravy train is about to run out.
In the next recession, retired government employees around the nation will experience what New Jersey’s retired government employees are now experiencing: reality.
They would be wise to start looking now for a second income stream. Avoid the rush.
Continue Reading on http://www.usatoday.com
Read more at http://teapartyeconomist.com/2014/07/31/new-jersey-will-default-government-pensions/#B5GZKvKE0mPSJYZ8.99
#2 by Anonymous on August 1, 2014 - 10:26 am
Qu’ils mangent de la brioche