I’ve posted several pension and disability pay stories but this one, focused on public safety personnel, underscores the pervasiveness of the pension dilemma. Cops and firefighters across the country are due generous life-time retirement payouts that, if they are not to eat up ever more revenue capacity of their jurisdictions, will have to be reduced drastically for junior or incoming employees–effectively cannibalizing the young to feed the old. No easy way out. http://www.nytimes.com/reuters/2012/07/29/us/29reuters-usa-pensions-policeandfire.html?smid=pl-share
Second Massachusetts State Police head to do so, at an estimated $25,000 per year hit on federal tax revenues. Former state police commander to collect tax-free disability pension.
Ho hum! Another big-city police disability pension system that lets trick knees and bad backs qualify cops for decades worth of tax-free payouts, often while otherwise employed, until their regular pensions kick-in.