Michael2944 Wrote:
Aug 11, 2012 10:33 PM
State/City/County gov't should compute a "fair retirement" - say 1.5% x number of years worked x base salary (no OT included) ...and indicate that is what they SHOULD have been given. Then take their current rate (sometimes as high as 3% x number of years worked x last year salary (including OT)) ...and tax the excess (the difference between an honest retirement and the corruptly negotiated retirement) at 95%. This way ..the state/more local gov'ts are not changing the promised retirement - but they are using the same clauses found by Supreme Court Chief Justice Roberts that the gov't CAN Tax things if they want!! The excess funds can be returned to help the systems be less insolvent.