Great Moments In Public Sector Compensation
I can't confirm this by Randal O'Toole is usually pretty much on top of Portland transit issues:
Portland’s TriMet agreed to allow transit workers to retire at age 55 after as little as ten years on the job and gave them and their families free medical care (with a $5 co-pay, no deductible) for life (plus 16 years after the retiree’s death for their families). As a result, health-care costs have grown from $18 million in 2000 to $68 million next year and projected to rise to $153 million–40 percent of the agency’s 2010 operating budget–by 2020.
perlhaqr:
Brilliant work.
May 15, 2012, 11:29 amme:
I am so moving to Portland. Deal of a lifetime...
May 15, 2012, 11:59 amSmock Puppet, 10th Dan Snark Master and Gourmand:
Hey, if we keep it down to one employee per rider on the Portland transit system, that's only a couple hundred thou a year.
May 15, 2012, 4:59 pmGrumpyOne:
Heh... For a real lesson on out-of-control public pensions, check out the mess that RI is in.
My old home state has done themselves proud at being a Jr. California.
Spend today and let someone else worry about it tomorrow...
May 16, 2012, 8:25 pm