Friday, May 21, 2010

Retirement System Problems

The Times- Picayune reports that Sally Clausen, commissioner of higher education, retired one day in 2009 so she could receive $90,625 plus a $12,212 monthly pension starting August l.  Sally Clausen taking advantage of the retirement system is symbolic of the problems with government employment -- federal, state and local. The job Sally has done with the educational system could have been done as well by a part-time McDonald worker making l0 dollars an hour.  Some of  the salaries paid to political state officials are obscene, but that happens when  politics is involved. Apart from that, retirement systems  all over the nation are dealing with with unfunded liabilities in the billions, and.  Louisiana is among the seven states in the worst condition.

The day is coming when private sector workers, who have only a shaky social security retirement to look forward to, will refuse to vote more taxes and those exorbitant benefits will be in trouble.

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