High paying govt jobs

[ERD50]

Well, I'd say "stealing" is a bit much since it's legal -- but it is an example of how something being *legal* doesn't make it *ethical*.

True, I was a being a bit dramatic there - but it sure feels like 'stealing'. And though it is probably illegal to break their contract, I wouldn't feel bad about it at all. I will hold out some small hope that they can find something illegal about these raises (conspiracy, bribes?), and maybe null them out, at least. Although prison time would be a better deterrent to others thinking about this (not that it has had much effect on our Governors! ).

You did hit on one important point here: It's not just taxpayers who get hurt by these ripoff pension games like "spiking" -- lesser pensioners who have to watch the solvency of their fund compromised by these should-be-banned spiking games are also under the gun.

I set out to write to our IMRF, but I'll have to wait for authorization via snail-mail to get to the on-line 'secure email' portion of the site. I figure a letter from a member will carry more impact, so I'll wait.

But I read the docs a bit deeper. IMRF is completely separate from any IL State pension, is currently ~81% funded, with a goal of 100% funding. Members contribute 4.5% from their paychecks, employers match that directly to IMRF.

Tough to see how they can get to 100% funding. If she retired today, she would get a diet COLA annual amount ~ 1/5th of the total contributions that have been made. I guess the growth of the contributions that sit there for 20-25 years make up the difference. Ahhh- and she is in sort of a 'sweet spot' on the rules - her part time years were enough hours to count fully toward vesting, and her more recent 'fuller time' (still part-year) higher annual salary is what is being counted towards the "Average Final Earning Calculation" - wait a minute, does that make her a 'spiker'? Nah, she didn't do anything to manipulate this, those are the rules and it just happens that her employment pattern hits the 'sweet spot'. But the payoff on her 4.5% contribution would probably look tremendous if I did the math. I guess the same way that SS looks good at the low levels, but not as you move up in income. Oh, and that IMRF looks to be linear with respect to income, no 'capping' that I could see. Her income is low enough that this won't be any significant piece of our retirement funding, but everything helps, esp with 3% COLA (and some SS from this and previous jobs).

-ERD50

 

[Spanky]

True, I was a being a bit dramatic there - but it sure feels like 'stealing'.
-ERD50

We can't call it 'stealing' because the practice is put into law (or legal), but the ramification is the same. That is, the tax payers get the short end of the stick whether it is legal or not.

 

[Texas Proud]

Well, I'd say "stealing" is a bit much since it's legal -- but it is an example of how something being *legal* doesn't make it *ethical*. And I share your outrage over games like this. It's one thing to put in 30-40 years and not play last-year games to earn a pension. It's another to receive a lot more than you deserve based on your work and salary history because some corrupt loophole allows it in some plans.

You did hit on one important point here: It's not just taxpayers who get hurt by these ripoff pension games like "spiking" -- lesser pensioners who have to watch the solvency of their fund compromised by these should-be-banned spiking games are also under the gun. Every pensioner who didn't pull this stuff should be hopping mad that a few people abuse the rules in such a way as to threaten their retirement.

I will disagree with you.. and agree with ERD on the stealing... stealing does not have to be illegal IMO... here is one definition

"the act of stealing; the wrongful taking and carrying away of the personal goods or property of another; larceny. "

I say it is a wrongful taking as they did it in secret... the hid the fact that they were being paid so much... if the salary of these people were known, it would not have been allowed to go on.... and now they are going to be rewarded for this for the rest of their lives... so they 'stole' money because they were being paid way to much... and they are able to keep stealing because of the laws...

Were there laws broken... I have no idea... I hope they can finds something in the laws about unjust rewards or something like that... but I am sure that this will blow over in time and these guys will get their money going forward... and I bet they think they deserved the money...

 

[MasterBlaster]

More Bell employees earned huge salaries

More Bell employees earned huge salaries, city says - latimes.com

The Bell salary scandal grew Friday when the city acknowledged that more city workers received high salaries, including two who made more than $400,000 a year and three who made more than $200,000.

Bell's interim city manager, Pedro Carrillo, announced the salaries at a news conference Friday, vowing that it was "a new day" for Bell.

 

[BigNick]

A couple of thoughts:
- The journalists who exposed this are probably in line for some major awards
- To the people who, earlier in the thread, said "I can't do anything about this": here's your answer. Less then three weeks later, the (apparent) wrongdoers are gone, due in no small part to popular action.

 

[harley]

A couple of thoughts:
- The journalists who exposed this are probably in line for some major awards
- To the people who, earlier in the thread, said "I can't do anything about this": here's your answer. Less then three weeks later, the (apparent) wrongdoers are gone, due in no small part to popular action.

Yeah, but they get to keep the money and the pensions. At least so far. I guess it's like the old saying..."crime does pay, just not forever".

 

[Spanky]

"How can a city sustain itself with all these salaries? We're talking about millions of dollars," he said. "Wow. Everyone in L.A. County is going to want to work for the city of Bell now."

Well, it's too late. However, there may be another city somewhere.

 

[REWahoo]

Update: 8 former, current officials in Bell, Calif., arrested in salary scandal -

 

[Spanky]

Update: 8 former, current officials in Bell, Calif., arrested in salary scandal -

I guess crime does not pay this time.

 

[Texas Proud]

I guess crime does not pay this time.

Let's hope.... I really do hope that they have to give back all the money, lose most of their pensions and spend some time in jail... and the DA said he was going after anybody that had anything to do with it.... good for him...

 

[Redbugdave]

I have always said that it takes a certain kind of crook to be in politics...

 

[NW-Bound]

There has not been any follow-up in this thread, so I feel that I need to inform people of this.

While in California visiting my aunt last month, I learned that the former city manager Rizzo and 7 others were arrested. They released very little info about the charges then. Just now, I remember to look that up and find this to share. According to the linked article, as of Oct 6, 2010, Rizzo had not been able to make bail, and had been charged with 53 counts.

Former Bell city manager Robert Rizzo will try to make bail Wednesday - Los Angeles Times

Then, on Oct 8, 2010, the following article said Rizzo was out after posting a $2M bail, and he said that the city still owed him back pay and legal expenses.

Bell Scandal: Fmr. Bell City Manager Robert Rizzo Free On Bail, Claims City Owes him More Money - ktla.com

 

[Spanky]

"When numerous perks like vacation, insurance and other benefits were added to his $787,637 salary, Rizzo's total compensation package from Bell was about $1.5 million a year."

Amazing!

 

[REWahoo]

There has not been any follow-up in this thread, so I feel that I need to inform people of this.

I beg your pardon...

Update: 8 former, current officials in Bell, Calif., arrested in salary scandal -

 

[NW-Bound]

Yes, it is amazing that this can happen in a democracy. When the populace does not watch, when no one bothers to shine light into each dark corner, to lift up the rug, that's what happens...

If I remember correctly, it was a reporter who spotted this scam, and rang the alarm bell.

Thank goodness for free press, for the various parties and factions who oppose the incumbent officials no matter who they are, for the dissidents, in fact for whoever cares to hassle these officials, to keep them in check...

 

[NW-Bound]

I beg your pardon...

OK, I missed your post. I was travelin'...