Tweet
Vallejo has gone bankrupt due to pension costs. San Diego IS bankrupt due to pension costs, has not filed --the same with Orange County.
Yet, the unions lie about the situation and continue to want to close down government due to high pension costs. What else would you expect from an organization that only exists because government allows them to extort money from workers? Workers who do not pay bribes are not allowed to work.
"Under the group's proposal, after 30 years' service, new non-police employees would receive an annual pension equal to 60 percent of the average of their three highest consecutive annual salaries. The current system, approved by the council in 2007, allows current non-police employees to retire after 30 years with 81 percent of their highest annual salary.
Rodolfo Ordonez, a liaison between Menlo Park employees and the union that represents most city workers, argued at the Jan. 26 council meeting that there is no need to overhaul the pension system.
"The truth is that pension benefits are not excessive, and do not drain public (funds)," he said. "It's a myth that the (pension) formula is the reason we are facing this humongous debt. ... The real reason is the downturn in the economy."
More...
Yet, the unions lie about the situation and continue to want to close down government due to high pension costs. What else would you expect from an organization that only exists because government allows them to extort money from workers? Workers who do not pay bribes are not allowed to work.
"Under the group's proposal, after 30 years' service, new non-police employees would receive an annual pension equal to 60 percent of the average of their three highest consecutive annual salaries. The current system, approved by the council in 2007, allows current non-police employees to retire after 30 years with 81 percent of their highest annual salary.
Rodolfo Ordonez, a liaison between Menlo Park employees and the union that represents most city workers, argued at the Jan. 26 council meeting that there is no need to overhaul the pension system.
"The truth is that pension benefits are not excessive, and do not drain public (funds)," he said. "It's a myth that the (pension) formula is the reason we are facing this humongous debt. ... The real reason is the downturn in the economy."
More...