Entry tags:
pension reform by the ballot box..
In November there will be a proposition of the ballot gutting the public employee pension system. It will pass because most people have been beat down so far they are jealous of the benefits that unions have provided public employees. There are some things about this issue worth enlightening people about.
Of course the politicians are exempting themselves.. they make rules that impact other people but when it gets too close to them, they exempt themselves.
It will cap the maximum pension at 60% of your average salary for the last three years. Considering the 'givebacks' that public employee unions have done in the last few years, it in effect means that they will not see anywhere near 60%. It also excludes any overtime, special pay, etc from the calculation.
You cannot, under this proposition, retire before the age of 62. As most public employees don't get social security but do qualify for Medicare, they will be stuck paying for health care out of that pension till they reach 65, if Medicare is not killed by the Republicans in Washington.
The net result is there will be a 'brain drain' before this is passed. Already, where I used to work, most of management are planning on leaving, and a lot of the supervisory personnel as well. That means that any services you depend on will be less efficient. Expect longer response time for that fire engine, and for police calls. Don't expect cities to keep you trash rates low, as this will probably be sub contracted and result in fee increases or reduction in service for police, fire, sewer, water, parks, libraries, schools, etc.
The only good thing is it will create lots of entry level jobs, if you want them. You'll need a college degree and be willing to put up with politicians, gadflies, and Tea Party types as bosses. You will have no incentive to stay long, as after 5 years you are vested, and if you plan on retiring before 62 there is no incentive to stay. Remember, no matter how many years you serve, you'll retire at 60% max. Oh, and you'll contribute 50% of that money yourself. Considering what this proposition is doing, there is no guarantee that the 60% number will hold.
After November of 2011 you should see the hiring signs appear at every public agency in the state. So, if you are looking for a job that doesn't pay overtime or is subject to the whims of the politicians and the ballot box, there will be jobs.
Former Assemblyman Roger Niello can be thanked for this 'jobs' program. BTW.. in interviews he has been giving the media he has been saying that this will only impact new employees but that is a lie, as what he filed with the Attorney General's office says otherwise. Expect this to pass and then expect the public to cry when they see service cuts, larger class sizes, long lines at the DMV, or a lack of fire and police in time of disaster.
Posted on Dreamwidth
Of course the politicians are exempting themselves.. they make rules that impact other people but when it gets too close to them, they exempt themselves.
It will cap the maximum pension at 60% of your average salary for the last three years. Considering the 'givebacks' that public employee unions have done in the last few years, it in effect means that they will not see anywhere near 60%. It also excludes any overtime, special pay, etc from the calculation.
You cannot, under this proposition, retire before the age of 62. As most public employees don't get social security but do qualify for Medicare, they will be stuck paying for health care out of that pension till they reach 65, if Medicare is not killed by the Republicans in Washington.
The net result is there will be a 'brain drain' before this is passed. Already, where I used to work, most of management are planning on leaving, and a lot of the supervisory personnel as well. That means that any services you depend on will be less efficient. Expect longer response time for that fire engine, and for police calls. Don't expect cities to keep you trash rates low, as this will probably be sub contracted and result in fee increases or reduction in service for police, fire, sewer, water, parks, libraries, schools, etc.
The only good thing is it will create lots of entry level jobs, if you want them. You'll need a college degree and be willing to put up with politicians, gadflies, and Tea Party types as bosses. You will have no incentive to stay long, as after 5 years you are vested, and if you plan on retiring before 62 there is no incentive to stay. Remember, no matter how many years you serve, you'll retire at 60% max. Oh, and you'll contribute 50% of that money yourself. Considering what this proposition is doing, there is no guarantee that the 60% number will hold.
After November of 2011 you should see the hiring signs appear at every public agency in the state. So, if you are looking for a job that doesn't pay overtime or is subject to the whims of the politicians and the ballot box, there will be jobs.
Former Assemblyman Roger Niello can be thanked for this 'jobs' program. BTW.. in interviews he has been giving the media he has been saying that this will only impact new employees but that is a lie, as what he filed with the Attorney General's office says otherwise. Expect this to pass and then expect the public to cry when they see service cuts, larger class sizes, long lines at the DMV, or a lack of fire and police in time of disaster.
Posted on Dreamwidth