Contra Costa retirement board reviewing pension policies
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#1 Jan 10, 2010
The Law Enforcement and Fire Dept. is not the only one involved in this.
Water districts and Waste Water Treatment plants get ourtragious retirements also with all kinds of pay 'spikes".
I know several of the CO CO retirees that make much more retired than they did working overtime when they were employed
Sooner or later the system and the county and the state will implode or cave-in on itself..
#2 Jan 11, 2010
Nearly all "retirement" systems pay out more to any given individual than was "collected" from that individual. That's the incentive for those people to work at the same job year after year, to miss few days of work, or for fire and police to accept more dangerous work than most people can tolerate. It does appear corrupt for someone to receive more than their paycheck after they retire but most people wouldn't take those jobs without the retirement incentives.
Aside from retirement systems, people receiving social security benefits are returned more than they actually paid into the system, unless they pass away soon after age 65. Our systems in the United States depend on input streams to redistribute money to recipients and rarely are these systems self-directed investments. I'm not saying it's right, just saying that Jose's criticism applies to many other people, not just hose who retire from Contra Costa County government.
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