Thursday, June 03, 2010
Strong Unions
"The fastest growing category of millionaires in the US is firemen, policemen, and other public servants who will retire in their mid-fifties on full salary (often 6 figure salaries), and will live for about 30 years." (Al Fin) Also in Israel the best salaries are those strongly unionized workers: Mekorot (Water) and the Electric Corporation.
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4 comments:
Public sector workers are grossly overpaid in the U.S., but most cops don't live that long after they retire.
Most will make it to 55+30=85 years old. Look at actuarial tables for people born, say in 1960 and still healthy in 2010. Well paid public employees with job security and full health insurance live even longer.
Don't forget that cops who retire can easily start second careers. When I worked for the Transportation Security Administration in the early days (summer 2002) of it and the whole Department of Homeland Security, MANY of the new hires were retired cops.
I talked to a retired Sheriff's deputy here in AZ and he stated that his retirement was limited to the number of years he had served. Instead of taking those years he stupidly took a lump sum payout.
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