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Albany New York’s Public Pension: Perfect Example of What’s Wrong in This Country

Politics / US Politics Jun 17, 2010 - 02:35 AM GMT

By: JD_Rosendahl

Politics New website reveals NY retirees' public pensions.  We have the same kind of website in California, which confirms similar data on pay.


See an example in Welcome to Oakland--The Model City.  The initial details in Albany are:

ALBANY, N.Y. — A new website reveals the public pensions paid to New York state retirees, including the $261,037 paid annually to a former teacher. He is among the 1,378 retirees pulling down at least $100,000 a year.

Two-thirds of the retirees in that group are retired police and firefighters.

The Empire Center for New York State Policy website that went live Wednesday also shows:

- Former state Comptroller Alan Hevesi qualifies for a $105,221 annual pension. The Democrat resigned in 2006 after pleading guilty to using state workers as chauffeurs and companions for his wife.

- Former Senate Majority Leader Joseph Bruno, a Republican, is in line for a $96,085 pension. He retired before being convicted in a public corruption case earlier this year. Federal prosecutors said he used his position to reap $3.2 million in consulting fees.


How does a convicted employee with a crime against their employer get to keep a pension?  I can’t tell who the bigger idiot is, the party who committed the crime or the state for paying the pension.  At least create a new law (if none exists) to end pensions to employees for such crimes against their employer.

As more and more states open up to publishing there compensation data, the public outrage is going to grow.  If nothing is done on this front, a back lash of public sentiment will grow as a coming wave of "Social Unrest" hits America, especially towards Policemen and Firemen, who have the most outrageous pay packages.

Even though there's a big oil spill in the Gulf, and European counties lining up for default, this is the big issue here in America.  The collective problem is massive and still wildly out of control.  I've said it before, we are in inning #2 of this problem.
When, when are politicians going to get real?

Hope all is well.

By J.D. Rosendahl

www.roseysoutlook.blogspot.com

J.D. Rosendahl was a former stock broker/investment consultant (currently not licensed) before becoming a Commercial Banker for the past 14 years. He manages his family's wealth, helping them avoid the high tech bubble and the real estate bubble melt downs and preserving wealth.

© 2010 Copyright J.D. Rosendahl - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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