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where california funds go

where california funds go

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zeeblebot

silicon valley

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http://www.mercurynews.com/ci_12818004?source=rss&nclick_check=1

Internal Affairs: Former top San Jose officials work elsewhere while drawing six-figure pensions

Posted: 07/12/2009 12:00:00 AM PDT


San Jose's generous employee pension program is drawing the ire of some locals as the city cuts services amid a multiyear flood of red ink. (See story, Page A1.)

But even more galling to some than the fact that nearly 300 city workers have retired with six-figure pensions is the fact that many of those folks have continued working elsewhere, thanks to a city retirement system that lets employees become eligible for full benefits in their 50s. Many are earning additional retirement benefits in their new jobs.

Here are a few former top officials you may remember.

Bill Lansdowne, 65

Retired: San Jose's most recently retired police chief left the city in 2003 after 33 years in the department with an annual pension of $169,278.

Today: Police chief in San Diego, where Lansdowne earns $177,660 (less than he made in San Jose). But with guaranteed cost-of-living increases all San Jose retirees receive, his pension has grown to $205,387 a year, making it the city's highest.

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K

Germany

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300 times $100,000 makes 30 million. Where do the other billions go?

zeeblebot

silicon valley

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that's ONE city.

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