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I think Trustee Kane needs to respond to this claim as to its truth and any claimed justification.
Neil Drislane
Village Taxpayer
posted by Neil Drislane on 03/16/12 at 11:02 AM
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I just looked this up. Public employees retirement benefits are calculated by how much they are paid, not how many hours they work.
This allegation is yet another falsehood perpetrated by people with no regard for the truth.
posted by Doug Vatter on 03/16/12 at 3:35 PM
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Doug,
You are partially correct. Public employee pensions are calculated based upon wages. The current formula utilizes the average of the employee's three consecutive highest salary. The portion you are omitting is that the employee receives a percentage of this average salary. The percentage is based upon total years of service. Therefore the more years of service, the higher the percentage the employee receives upon retirement. So as you can see pensions are calculated based upon salary and years of service. I think with all the media coverage of the states pension system recently, the questions raised are ligitament to ask of an elected official. Particularly, when we currently have two elected state representatives (Larkin & Calhoun) currently receiving a full pension from the state system while still recieving a full salary as an elected official. Yet they are in full support of pension reforms. I guess it is ok since they got theirs already.
posted by Robert Basil on 03/16/12 at 5:16 PM
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Mr. Basil - That is an interesting concept. No matter how many hours Mr. Kane claims as having served COH, his retirement benefit is calculated based on his highest 3 consecutive years of salary as a public employee.
So am I correct that Mr. Kane's pension will be calculated including his salary during his 7 years as an assistant DA, and not on the amount he makes as a Trustee? Am I correct that the time he claims for pension as a COH trustee gives him additional TIME calculated into his pension, but that the pension rate is calculated based on his highest salary during his working years, including his time in the DA, not just his years as trustee? Or does his time as a DA not count for what COH has to pay? I am interested to know if there is a difference ...
posted by Melissa Vellone on 03/18/12 at 12:56 PM
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