Saturday, November 14, 2009

Double Dipping

I read this article a few days ago and I thought at first they had a point. I then read the rest of the article and found out the point was on their head.

The article exposed the hideous practice of "double dipping". A state employee retires after the required 20 years with the fire department and as he or she have been paying into the state run pension, they start collecting their retirement checks.

We all know state wages are enough to put anyone into the lap of luxury so there is no need for a second job when the pension (only part of the regular salary) starts rolling in (sarcasim).

These state employees then go back to the state and get jobs as teachers. The article indicated the state legislature was going to stop this practice because the state pension fund didn't have enough money to support the payouts. They also insinuated this was wrong in some way.

I am all for someone not getting paid twice for the same thing, which is what I thought the article was about. Typically double dipping is about, for instance, someone who gets a car allowance from the state and then turns in the gas reciepts for reimbursement (never happened in our state - again with the scarcasim).

First, this example is not double dipping and second the proposed legislative action is stupid for several reasons:

1. The retiree is entitled to the pension. He or she paid into the fund and retired after the required amount of time. No other job should void their pension. If they aren't able to work for the state they will just work elsewhere. They won't give up their pension.

2. They are a trusted state employee. Why would you give up someone you know and trust for an unknown quantity.

3. The pension fund is smaller because it is tied to the stock market, not because these retirees are taking out of it.

Thank goodness we have the legistlature to look after us.

1 comment:

Max said...

Thank you Pedro. Much better to hear it from someone with a business and law background rather than a teacher that stands to benefit from it in 13 years.