Redding just came out with a brilliant plan to combat the budget deficit facing most of California’s cities and counties: just make the over-paid higher-ups pay for more of their retirement up front.
Sound simple? It is simple! And brilliant. And we like it a lot.
Here’s a link to a story about Redding’s idea:
In case you’re too lazy to click over to the link, Redding is essentially requiring that folks in top-level positions contribute 2% of their pre-tax salaries towards their own retirement pension funds. In Redding’s case, that comes out to 52 employees.
Not much, really, but it’s a start.
Now, true to form for government everywhere, this rosy proposal has it’s fair share of shysty-ness involved, too. We mean this part, where Redding says some of the pay they take from top-earning employees goes straight back to their own coffers:
“It will also save the city about $134,500 per year, Personnel Director Sheri DeMaagd said. Of that, about $38,000 would go to the city’s general fund, about two-thirds of which pays for police and firefighters, among other positions.”
Yes, of course, we agree – the top brass in our own local governments are generally making way fricking more than they should. But docking their pay to funnel back into the general fund is not just unethical, it also doesn’t directly deal with the pension deficit problem.
Honestly, we’d be kind of concerned that our own local idiots would take that extra general fund money and use it to hire even more unnecessary public employees, thereby making the pension problem even worse.
However, THC stands behind the idea that making public employees – particularly the ones bringing in ludicrously high salaries – shoulder more of the cost of providing their ludicrously generous pension plans is fantastic.