Blog Junky
a group blog for the political omnivore (objective and equitable)


Wednesday, May 28, 2003  

Record retirements hit PERS
The entire front office at my daughters grade school retired last week.
"It's like having a bank statement and then having them say, 'Oh, we made a mistake' and take it back," said Linda Heldstab, 55, a Department of Corrections employee from The Dalles who is retiring after 30 years working in employment, mental health and corrections offices.

No, when you are retiring with full benefits at 55 and the law says you can double dip, it is like winning the lottery and having the state come back and say "Wait, the voters didn't approve a lottery, they thought it was a retirement plan. And if it was a lottery, you would have to risk some of your own money. So, it is really a gift."

The mass exodus of teachers just underscores what a cherry this is for public employees. I'm no economist so I'm still trying to figure out how the state will SAVE MONEY, as the article claims, by paying PERS retirees their full salary as retirement benefits at ridiculously young ages, while AT THE SAME TIME paying for admittedly cheaper workers to replace them.

posted by Calvin | 9:18 AM

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