Every single government employee and their family/friends vote in local elections, and other people do not. You will not win an election without their votes, and you can use opaque compensation like DB pensions and whatnot to hide and punt forward the costs of the compensation.
You will never find a non taxpayer funded entity promise something like this:
>After 30 years of service, LA lifeguards can retire as young as 55 on 79-percent of their pay.
Go ask an insurance company how much an annuity for even $80k would cost starting at age 55 until death. It would be $1M+.
Social Security averages out your earnings for your whole lifetime to calculate the benefit, and that is with the power of the federal government. City and state governments regularly promise employees final average 1, 3, 5, and at best 10 pay formulas. So you see cops/firefighters/lifeguards/etc spiking their overtime and working 80 hours per week for the last few years, doubling and tripling their DB pension benefit.
And you simply will not see this outside of taxpayer funded entities.
These waterfront lifeguards have a lot more in common with EMTs and firefighters than have with the teenager who watches septagenarians do laps at your local pool, and they're compensated as such.
No CEO or programmer dies in the line of duty, yet you can't throw a rock on this site without hitting thkse kinds of compensation.
mapmap|2 years ago
lotsofpulp|2 years ago
You will never find a non taxpayer funded entity promise something like this:
>After 30 years of service, LA lifeguards can retire as young as 55 on 79-percent of their pay.
Go ask an insurance company how much an annuity for even $80k would cost starting at age 55 until death. It would be $1M+.
Social Security averages out your earnings for your whole lifetime to calculate the benefit, and that is with the power of the federal government. City and state governments regularly promise employees final average 1, 3, 5, and at best 10 pay formulas. So you see cops/firefighters/lifeguards/etc spiking their overtime and working 80 hours per week for the last few years, doubling and tripling their DB pension benefit.
And you simply will not see this outside of taxpayer funded entities.
OkayPhysicist|2 years ago
No CEO or programmer dies in the line of duty, yet you can't throw a rock on this site without hitting thkse kinds of compensation.
idontpost|2 years ago
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