Summary
The late spring headlines about labor negotiations in the San Bernardino County city of Rialto were absolutely stunning, considering the context. "Rialto pension plan OK increases city obligations," blared one local newspaper.
The details were even more remarkable in this time of strapped municipal and county budgets. For Rialto City Council members voted 3-2 to give the local police officers' union a "3 at 50" pension plan, which will let any officer retiring at age 50 or above collect 3 percent of his or her highest annual salary each year, multiplied by the number of years served. Firefighters were expected to get the same plan.See the full content of this document
Extract
The Public Pension Mess
So 20-year police veterans can retire at 50 with 60 percent of their annual salaries, while 30-year veterans get 90 percent. Stay 40 years and you can get paid 20 percent more in retirement than for working. ...
See the full content of this document
Sponsored links
