The rising cost of retirement programs
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Public retirement is out of control. Private sector employees are
working longer. Public employees are retiring earlier because of the
retirement formula that gives them 2% of their salary at age 50 to
55, which used to be put off until age 60.
That combined with cafeteria health plans, sick leave and
vacation, excess cash-outs means most public employees, especially
fire fighters and police officers, can retire at full pay and start
second careers when they are still in their early 50s.
This whole area needs to be looked at completely -- especially the
retirement formulas and the cafeteria health plans that pay employees
for the excess they don’t use.
DENNIS BARTON
Costa Mesa
I’ve got an answer for your question about the retirement budget
crunch in Newport Beach -- and that is to make all government
employees, from the municipal to the state level, participate in the
Social Security system -- either by a legislative initiative or a
proposition. We can kill two birds with one stone.
WAYNE LEFFLER
Costa Mesa
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