Thursday, July 16, 2009

Holy Pension Reform

Disclaimer: This information is dry like dog crap that has turned white and, meant, by politicians, to bore the shit out of you, to keep you ignorant and let them have free rein, but the below is worth a read, so you know whats happening in California.

From Sacramento Bee:
Two-tier California pension proposal on hold

By Jim Sanders
Jul. 15, 2009

California will not impose a two-tier pension system promising lower benefits to future state workers as part of any wide-ranging deal to solve its $26.3 billion budget shortfall, The Bee has learned.

And check this out:

"Creation of a two-tier system was not expected to save money immediately, but it was hailed by Schwarzenegger as a long-term way of freeing about $95 billion in state funds over 30 years."

Schwarzy is trying to help Cal-i-fornia in the long term:

"The governor is not demanding that pension reform be part of negotiations, but the longer we wait, the worse it will be for the programs that Democrats are trying to protect"

But guess who is throwing feces at it-saying, in part, that its not the time to fix the fractured bone, just a bandaid will do, even though, we know logically, it could save California money over time. (this is just Darrell "Stinkbug's" way to stall for his crew):

"When the issue arose last month, Steinberg said pension reform "deserves real consideration in the Legislature, but it's not right to jam it into a budget agreement in (the final) hours."

Hey Steinberg, it only takes a few moments to read what it is and a few seconds to say "yes" to this-
But he is a jacknut- typical lawyer stall tactics.

**UPDATE-TODAY McSteinberg has announced that he is willing to go for a bill to repay the schools millions of dollars over the next few years to ensure they are repaid for any money that Arnold is cutting from the budget. (so, THAT is okay to jam into a budget agreement-note the snake-like performance of old Darrell "Clown-ass" Steinberg)

Here's what the Arnold Penision reform would do (hellllo-this isnt happening already?):

• Alter the pension formula to ensure lower benefits or longer public service. For example, most state workers who are not public safety employees now may retire at age 55 with a pension totaling 2 percent of their salary multiplied by the number of years worked. The new formula would pay that benefit at age 60.

• Compute pensions for peace officers, firefighters and Highway Patrol officers based on the highest three years of compensation earned, rather than the highest single year.

• Remove the current "floor" above which state employees must contribute to their pensions. For example, most state workers must contribute 5 percent of their salary to the pension system – but their first $513 of monthly earnings is not assessed.
• Provide lifetime health care benefits only for retirees who have worked 25 years. Currently, the state pays 50 percent of retiree health insurance costs for employees with 10 years of service. The percentage rises annually, to 100 percent for 20-year employees.

Shit,shit, shit... I dont care about GOP,PMS,DDS,LOL,OMG or any other BS party but I noticed, if the dems don't get their way, its, everybody is going to be eaten by bears that released prisoners carry, everyone who doesn't agree with them is a terrorist, whine to the Unions, Pass taxes illegally(or as they call it, revenues), or they take their bat and ball, go home-slam doors and fold their arms (won't mention names, Fish Face, Karen Bass).

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