Comments on: Estimate: Weiner’s Pension And Benefits Could Exceed $1 Million http://kosu.org/2011/06/estimate-weiners-pension-and-benefits-could-exceed-1-million/ The State's Public Radio Fri, 14 Jun 2013 02:20:08 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: Richard Rider http://kosu.org/2011/06/estimate-weiners-pension-and-benefits-could-exceed-1-million/comment-page-1/#comment-121192 Richard Rider Sat, 18 Jun 2011 03:12:19 +0000 http://kosu.org/2011/06/estimate-weiners-pension-and-benefits-could-exceed-1-million/#comment-121192 While most of us would prefer that cads such a Weiner receive ZERO pensions, this Congressional pension is quite modest by California public employee standards -- indeed less generous than any CA public employee plan I can think of! With a current salary of $174,000, Weiner's pension for 14 years in office will be only $46,000. That's about 2% times salary times number of years in office. Most CA pensions use 2.5% to 3% of salary. Moreover, Weiner's pension is based on the average of his highest three salaries. Most CA public employees figure it based on their SINGLE highest year's salary. In addition, Weiner's pension starts at age 62. Almost all CA public employees can start their full pensions from ages 50 to 60. The problem is not that Weiner's Congressional pension is too little -- the problem is that we taxpayers pay millions of government employees pensions that cost too much. While most of us would prefer that cads such a Weiner receive ZERO pensions, this Congressional pension is quite modest by California public employee standards — indeed less generous than any CA public employee plan I can think of!

With a current salary of $174,000, Weiner's pension for 14 years in office will be only $46,000. That's about 2% times salary times number of years in office. Most CA pensions use 2.5% to 3% of salary.

Moreover, Weiner's pension is based on the average of his highest three salaries. Most CA public employees figure it based on their SINGLE highest year's salary.

In addition, Weiner's pension starts at age 62. Almost all CA public employees can start their full pensions from ages 50 to 60.

The problem is not that Weiner's Congressional pension is too little — the problem is that we taxpayers pay millions of government employees pensions that cost too much.

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