This bill isn't going to help us taxpayers much. First off it allows spiking. Pension is determined NOT by base pay, but by base pay PLUS overtime, sick pay, vacation and holiday pay, cost of living bonus, non-cash payments such as room and board, and some other stuff. That's right at the beginning, RSA 100-A:1, XVII. Employees work a lot of over time, and cash in all their accrued pay right before retirement to boost their pensions. Pensions ought to be on base pay ONLY.
It permits pension benefits of 100% of base pay. (RSA 100-A:6 a). That is twice what it ought to be. Pensions ought to half pay. If the pension pays as much as base pay, why not retire now?
It permits pensions be paid to employees with as little as three years of service!! (RAS 100-A:XVIII 1).
The pension department says this bill isn't going to save any money. This is a "note" toward the end.
The whole bill is too long, and has too much opaque verbiage in it. There has gotta be some expensive benefits hidden in the lawyerese. We shouldn't pass bills that cannot be understood.
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