You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

San Jose's $100,000 pension club is rapidly growing [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-03-11 09:26 PM
Original message
San Jose's $100,000 pension club is rapidly growing
Advertisements [?]
Source: San Jose Mercury News

With San Jose leaders locked in a heated debate over how to curb retirement costs, an analysis by this newspaper shows a startling jump in six-figure pensions for retired cops, firefighters and top City Hall bureaucrats.

Nearly 1 in 3 retired San Jose police officers and firefighters now receive annual pensions of $100,000 or more -- up from 1 in 5 just two years ago, according to newly released records.

An increasing number of city workers are calling it quits to take advantage of a sweet retirement deal -- a guaranteed pension and automatic 3 percent annual cost-of-living raises that exceed the inflation rate -- while the city slashes everything from library hours to police jobs to cover the ballooning retirement benefits.

And in what critics of public pensions call a perverse phenomenon, some former city employees who retired a few years ago are now paid more than they were on the job, while remaining workers have taken 10 percent salary cuts to help pay the pension tab.

Read more: http://www.mercurynews.com/rss/ci_19465443
Refresh | +12 Recommendations Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC