California county administrator to get $423,644 a year -- after retirement

[TechMan]

CA County Admin is retiring after nearly 40 years and she will get the following:

$301,000 base pay
$24,000 in “equity pay” to make sure she makes at least 10 percent more than anyone else in the county, even in retirement.
An annual performance bonus of $24,000, even in retirement.
Another $9,000 a year for serving on the county’s three-member Surplus Property Authority, even in retirement.
$54,000 a year in “longevity” pay for having stayed with the county for more than 30 years, even in retirement.
Like other county executives, she’ll also get an $8,292-a-year car allowance.

She also has a separate executive private pension plan, for which the county chips in $46,500 a year.

(emphasis added by me)

Read more: http://www.foxnews.com/politics/2013/03/26/alameda-county-administrator-to-get-423644-year-after-retirement/#ixzz2Of81hdUH

No wonder why CA is so *expletive deleted*ed up.

[Ben]

Alameda - say no more. Not that it isn't happening elsewhere in the state, but that whole area is  scammer local politicians and liberal sheep.

[griz]

I’m not a financial wizard, but if you make sure you always pay 10 percent more than everybody else in the country, and your particular goose doesn’t lay 10 percent more golden eggs, well... it doesn't seem like a plan that can work forever.

[brimic]

I’m not a financial wizard, but if you make sure you always pay 10 percent more than everybody else in the country, and your particular goose doesn’t lay 10 percent more golden eggs, well... it doesn't seem like a plan that can work forever

People have been awarded Nobel Prizes in Economics for a whole lot less understanding of how economics works than that. In fact, there are those that believe that if you kill the Golden Goose, they would find and endless supply of golden eggs inside the corpse.

[HankB]

I’m not a financial wizard, but if you make sure you always pay 10 percent more than everybody else in the country, and your particular goose doesn’t lay 10 percent more golden eggs, well... it doesn't seem like a plan that can work forever.

It would REALLY get entertaining if some other county employee also had a contract guaranteeing 10% more pay than anyone else.

[longeyes]

One word applies: RICO.

This ain't kosher, folks.

[brimic]

Civil servant = Civil master.

[Boomhauer]

Our school superintendents are paid their yearly salary (it's around $100k per year) for the rest of their life once they leave the position. They also bring  the superintendent's spouse on the payroll and pay them almost as much...

[roo_ster]

Our school superintendents are paid their yearly salary (it's around $100k per year) for the rest of their life once they leave the position. They also bring  the superintendent's spouse on the payroll and pay them almost as much...

What a deal.  School supers around here make much more than that to not educate children.

[Scout26]

Yep, School District superintendents around here make about 1/2 a Mil a year, get healthcare for life and a state pension at the end of their contracts.  We had one that making over 2 million a year (most from 3 previous jobs) along with healthcare and was collecting on a pension.

And people wonder why Illinois is so screwed up.

[RevDisk]

Yep, School District superintendents around here make about 1/2 a Mil a year, get healthcare for life and a state pension at the end of their contracts.  We had one that making over 2 million a year (most from 3 previous jobs) along with healthcare and was collecting on a pension.

And people wonder why Illinois is so screwed up.

Why, oh why, did I not get into this racket?

[CNYCacher]

It helps to know, when this topic comes up, that some state employee pension funds aren't funded by taxpayers, but by mandatory employee contributions.

The NY police pension fund is so well-funded by mandatory contributions that it takes in no taxpayer dollars and could support everyone currently in the system until they die even if contributions stopped today.  The teacher fund is similar.

[Tim L]

That does it,  now I know I'm either doing it wrong or in the wrong business.   

[brimic]

The NY police pension fund is so well-funded by mandatory contributions that it takes in no taxpayer dollars and could support everyone currently in the system until they die even if contributions stopped today.  The teacher fund is similar

So in essence you are saying that the taxpayers contribute so much to these funds that they can afford these payouts?
Remember- salaries, benefits, etc are negotiated for and paid by the taxpayers.  I actually have no problems with that system, if the local taxpayers are willing to foot the bill.

[longeyes]

This is a de facto junta.  Nothing less.

It needs to be exposed, derided, and ended.   

When taxpayers finally say HELL NO we will see the beginning of the real take-back America movement.

[roo_ster]

This is a de facto junta.  Nothing less.

It needs to be exposed, derided, and ended.   

When taxpayers finally say HELL NO we will see the beginning of the real take-back America movement the bureaucratic class take off its gloves, hire 100K thugs with taxpayer or funny money, and try to beat more money out of us like a loan shark demanding his vig.

More likely scenario.  But one can hope for yours.

[CNYCacher]

So in essence you are saying that the taxpayers contribute so much to these funds that they can afford these payouts?
Remember- salaries, benefits, etc are negotiated for and paid by the taxpayers.  I actually have no problems with that system, if the local taxpayers are willing to foot the bill.

You raise an interesting perspective.  Does my boss get to bemoan the nice camera I bought myself with the money he paid me?  To my understanding, the taxpayers vote to pay the police X, and then the police have to contribute Y% of X for the first 7 years only taking home (100-Y)% of X (before taxes).

I suppose your argument boils down to whether or not the base pay is justified.

I suppose that my argument is that when people imagine that pension payments are coming directly out of taxpayer dollars, they are wrong.

[longeyes]

More likely scenario.  But one can hope for yours.

Yours is more plausible, I concede that.

But every play has many acts.  And that one--the brutal application of oppressive force--won't be the last one.  We should expect overreaction, but there's a cost for every insult to nature.

***

Limit government pensions to $100K a year.  No exceptions.

[MillCreek]

NecroSpam!