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| City Councilmember Pat Furey |
Mayoral candidate Pat Furey, a county
employee retiring within days with a public pension, slammed the “pension envy”
he hears from workers in the private sector who question the generous wages and
benefits paid to police officers. (The Daily Breeze)
employee retiring within days with a public pension, slammed the “pension envy”
he hears from workers in the private sector who question the generous wages and
benefits paid to police officers. (The Daily Breeze)
Creating
a new psychological (or psychoanalytic?) disorder, Torrance Councilmember and
mayoral candidate Patrick Furey unleashed his fury on private sector employees
who criticize the massive pension payouts of public employee..
a new psychological (or psychoanalytic?) disorder, Torrance Councilmember and
mayoral candidate Patrick Furey unleashed his fury on private sector employees
who criticize the massive pension payouts of public employee..
For the
record, many Torrance residents, and likely voters, are private sector
employees and small business owners. Still, why would anyone feel “pension
envy”?
record, many Torrance residents, and likely voters, are private sector
employees and small business owners. Still, why would anyone feel “pension
envy”?
A growing number of Torrance
public safety officers make more than one hundred thousand dollars a year, then take 90% of their salary upon retirement. One retired officer shared with
me that the pension formulas shifted in the 1990s, and while he funded his
retirement adequately, so that his disbursements would not undermine the
pension fund. Another public worker, in Rhode Island, invested his retirement
through a private system, so that he would be neither gouging his constituents
nor jeopardizing his future.
public safety officers make more than one hundred thousand dollars a year, then take 90% of their salary upon retirement. One retired officer shared with
me that the pension formulas shifted in the 1990s, and while he funded his
retirement adequately, so that his disbursements would not undermine the
pension fund. Another public worker, in Rhode Island, invested his retirement
through a private system, so that he would be neither gouging his constituents
nor jeopardizing his future.
Pension
funding is a serious issue, nonetheless.
funding is a serious issue, nonetheless.
Four
California cities have gone bankrupt because of unsustainable pension
obligations to retired employees. Statewide stats affirm that eighty percent of
public school revenues fund retirement pensions and benefits, as well. Cities
should serve residents, and schools are supposed to serve students, providing a
safe environment to live and thrive. Yet most cities may not survive the
liabilities laid upon them because of generous contracts negotiated between
public employee unions and prior city councils. Who will protect us from our
protectors, indeed?
California cities have gone bankrupt because of unsustainable pension
obligations to retired employees. Statewide stats affirm that eighty percent of
public school revenues fund retirement pensions and benefits, as well. Cities
should serve residents, and schools are supposed to serve students, providing a
safe environment to live and thrive. Yet most cities may not survive the
liabilities laid upon them because of generous contracts negotiated between
public employee unions and prior city councils. Who will protect us from our
protectors, indeed?
Instead
of “pension envy”, perhaps the proper term should be pension outrage, or entitled
entitlement exasperation. El Segundo has had few fires or deaths, and yet the
Police Chief is on track to take home nearly $200,000 a year in pensions. In
Lawndale, Centinela Valley Union High School District Superintendent Jose
Fernandez negotiated a lucrative contract with a compliant school board, which
offered to him a base pay near equal to the LAUSD Superintendent, in spite of
the fact that he supervises a district one hundredth the size of LAUSD. The
perks and pension “air time” offered to the superintendent vaulted his 2013
salary to $663,000. Hermosa Beach parking enforcers make a minimum of $53,000 a
year, yet Hermosa Beach’s sewer system needs to be revamped.
of “pension envy”, perhaps the proper term should be pension outrage, or entitled
entitlement exasperation. El Segundo has had few fires or deaths, and yet the
Police Chief is on track to take home nearly $200,000 a year in pensions. In
Lawndale, Centinela Valley Union High School District Superintendent Jose
Fernandez negotiated a lucrative contract with a compliant school board, which
offered to him a base pay near equal to the LAUSD Superintendent, in spite of
the fact that he supervises a district one hundredth the size of LAUSD. The
perks and pension “air time” offered to the superintendent vaulted his 2013
salary to $663,000. Hermosa Beach parking enforcers make a minimum of $53,000 a
year, yet Hermosa Beach’s sewer system needs to be revamped.
And now
to Torrance, CA. The Wall Street Journal featured the largest South Bay city in
a list of municipalities with overwhelming pension liabilities — $392,000,000to be precise. Torrance’s Finance Director Eric Tsao disputed the accounting in a Letter to the Editor, arguing that the city’s current
expenditures only total 12% toward pensions. Yet percentages can be misleading,
as they hide the real costs of pension liabilities, just as California Governor
Jerry Brown could declared “We have balanced the budget!” while ignored the
enormous wall of debt from public employee benefits.
to Torrance, CA. The Wall Street Journal featured the largest South Bay city in
a list of municipalities with overwhelming pension liabilities — $392,000,000to be precise. Torrance’s Finance Director Eric Tsao disputed the accounting in a Letter to the Editor, arguing that the city’s current
expenditures only total 12% toward pensions. Yet percentages can be misleading,
as they hide the real costs of pension liabilities, just as California Governor
Jerry Brown could declared “We have balanced the budget!” while ignored the
enormous wall of debt from public employee benefits.
True,
safety officers risk their lives, and in the past they did not survive five
years past retirement. Yet today, more public safety employees do live and
thrive for decades after leaving the work force, thus placing massive demand on
municipalities and their pension funds.
safety officers risk their lives, and in the past they did not survive five
years past retirement. Yet today, more public safety employees do live and
thrive for decades after leaving the work force, thus placing massive demand on
municipalities and their pension funds.
Pension
reform is a necessity for good fiscal health.
reform is a necessity for good fiscal health.
Can Furey
of “pension envy” fame bring this reform? He is a public employee, too, but so
is fellow challenger Tom Brewer. However, Furey just garnered the Torrance Police
Officers Association endorsement, and they have $170,000 in PAC money on hand
to promote their candidate. No wonder Fury is in flurry to defend current
pension obligations.
of “pension envy” fame bring this reform? He is a public employee, too, but so
is fellow challenger Tom Brewer. However, Furey just garnered the Torrance Police
Officers Association endorsement, and they have $170,000 in PAC money on hand
to promote their candidate. No wonder Fury is in flurry to defend current
pension obligations.
Despite
their financial leverage, California’s public sector unions have endured more
losses than wins lately, starting with San Jose and San Diego, where 70% voting
majorities endorsed comprehensive pension reforms in 2011-2012. In 2014,
Republican Kevin Faulconer won the special election mayoral race in San Diego,
as well, despite ten-to-one outside money from union endorsements.
their financial leverage, California’s public sector unions have endured more
losses than wins lately, starting with San Jose and San Diego, where 70% voting
majorities endorsed comprehensive pension reforms in 2011-2012. In 2014,
Republican Kevin Faulconer won the special election mayoral race in San Diego,
as well, despite ten-to-one outside money from union endorsements.
Despite
Councilmember Furey’s fury about pension envy, the frustration about unfunded
liabilities is not a disease, but rather a symptom of residential outrage, as
voters are fed up with city leaders who accommodate present employees and
retirees at the cost of current as well as future residents. Crime is up
throughout California, and Governor Brown’s realignment has not helped, but a
city which spends more money on retired police rather than clear and present
law enforcement needs to shift its priorities.
Councilmember Furey’s fury about pension envy, the frustration about unfunded
liabilities is not a disease, but rather a symptom of residential outrage, as
voters are fed up with city leaders who accommodate present employees and
retirees at the cost of current as well as future residents. Crime is up
throughout California, and Governor Brown’s realignment has not helped, but a
city which spends more money on retired police rather than clear and present
law enforcement needs to shift its priorities.
With the
most comprehensive turn-around in city leadership coming to pass in the city’s
history, Torrance needs representatives who will not just discuss but enact and
enforce comprehensive pension reforms, respecting the needs of current and
future retirees, while also ensuring that the bulk of city funding funds city
needs, not over-generous pension and benefits guaranteed in lucrative contracts
signed by temporal city leaders into place without keen foresight or deep regard
for foreseeable economic challenges.
most comprehensive turn-around in city leadership coming to pass in the city’s
history, Torrance needs representatives who will not just discuss but enact and
enforce comprehensive pension reforms, respecting the needs of current and
future retirees, while also ensuring that the bulk of city funding funds city
needs, not over-generous pension and benefits guaranteed in lucrative contracts
signed by temporal city leaders into place without keen foresight or deep regard
for foreseeable economic challenges.
Torrance
faces a crumbling infrastructure, including potholes and rising need for parks
and recreations restoration. Public revenues should go toward renewing and
revamping the city’s public works, which serve all residents, rather than
exclusively sustaining pension obligations for employees no longer working for
the city.
faces a crumbling infrastructure, including potholes and rising need for parks
and recreations restoration. Public revenues should go toward renewing and
revamping the city’s public works, which serve all residents, rather than
exclusively sustaining pension obligations for employees no longer working for
the city.