The county commission is at it again.
Tomorrow they will vote another gift to their own.
This "county policy" is another scam intended to fool the taxpayers and enrich county employees at the expense of us poor mokes.
The reality is that (in this case) the employee is spending $65,400 to get something of far greater value.
Something that will be paid for (or in fact borrowed from) by future taxpayers.
IE:Our children and grandchildren.
The employee will retire now but get an extra 5 years worth of very valuable retirement benefits (starting immediately) plus free lifetime health, dental, vision benefits.
Plus the position will likely be filled so we will be essentially paying for two people to do one job.
Most county retirement plans have a sharp uptick in benefits at the end of an employees employment and this will be a very expensive jump in the obligation owed by our county.
But the really nifty part is that the commissioners have no clue what the ultimate cost will be.
One commissioner told me that it is impossible to know.
Maybe he believes that but actuaries know what these thefts will cost.
That the county commissioner would be ignorant of what actuaries do, or our county administration has chosen not to get the number or was lying to me, I can't tell.
But this gift "policy" is getting out of hand.
If you care, attend tomorrow's meeting at the county building 3:30 4th floor.
Ask these questions;
1. "how much will this 5 year purchase cost the taxpayers?"
2. when they refuse to respond "why don't you know?"
3. "what is the total cost of all the other 'purchases'?
4. "how bout the cost over the last 2 or 3 years?"
5. "how many retirees have utilized this policy over the past 5 years?
6. "Isn't this just a way for employees to boost their benefits and circumvent the real, agreed upon retirement program?
7. Isn't the county facing serious financial problems and wouldn't it be prudent to start NOW in reducing the financial burden on county citizens?
8. Or "does no one here give a crap?"
SUMMARY OF REQUEST (GENERAL DESCRIPTION, FINANCING, OTHER OPERATIONAL IMPACT, POSSIBLE ALTERNATIVES)
In keeping with county policy regarding purchase of MERS generic service credit, Christine Wyns, Training and Community Resources Specialist, has submitted a request for authorization to purchase 60 months generic service credit at her cost. Per the attached MERS estimated actuarial cost of additional credited service, Ms. Wyns will be responsible for payment of $65,400 (as determined by MERS on the attached Application for Additional Credited Service) to MERS prior to her date of retirement of May 01, 2011.