Trinity County Waterworks District, near Redding, cuts ties with CalPERS, pensions are “slashed”

17 Sep

Thank you, anonymous tipster, for sending me this article from Zero Hedge. 

http://www.zerohedge.com/news/2017-09-13/calpers-slashes-pension-payments-retirees-two-more-california-towns-90

People have criticized Zero Hedge, so here’s an article from Sacramento:

http://www.sacbee.com/news/politics-government/the-state-worker/article172960601.html

It looks like other towns/agencies are walking away from CalPERS, willing to make the final pay-off, or not. It looks like they’ve just let their old employees take a cut.

Promises, promises – who promised these insane pensions, anyway? And who would take such a promise – a person who is either an idiot or a leech.

The Zero Hedge author calls the CalPERS system what it is – a Ponzi Scheme. Now they are trying to leave the taxpayers holding the bag. 

I’m going to start sending these links to the city council and county board of supervisors – you do same. Write a little note, include your favorite sections of these articles and your thoughts, because my guess is, most of them won’t open the link. Whether they read it or not, it becomes part of the “official record.” 

What was it Arlo Guthrie said? “One guy is crazy, two guys are [politically incorrect],  but three guys, that’s a movement!”

 

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4 Responses to “Trinity County Waterworks District, near Redding, cuts ties with CalPERS, pensions are “slashed””

  1. bob September 17, 2017 at 6:46 am #

    The city and county politicians will let the roads and everything else fall apart and bleed the taxpayers white (all this is already happening) before they ever leave CalPers.

    After all, millionaire bureaucrats like Orme (his pension alone is worth millions) come first!

  2. Jim September 17, 2017 at 7:23 am #

    The fat cats draw a disproportionately high amount of the pension fund. I feel sorry for the low level workers caught in this mess.

    • Juanita Sumner September 17, 2017 at 7:35 am #

      Thanks for that Jim, I know the lower level workers get somewhat screwed – for some dumb reason they pay more of their pension than management. The good news is, they will get more of their pension.

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