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2010-09-07 16:27:32

Monetary Problems of New York Complicated by Padded Pensions

"The cost of public pension schemes have been regularly underestimated across America for over twenty years.

Monetary problems of New York complicated by padded pensions. Over one hundred police officers who have retired and also firemen are taking pensions that are larger than the salaries they took when they were in service. Hugo Tassone is one of the youngest who retired when 44 years old. He had a basic annual pay of $74,000 per year but now his pension stands at $101,333 per year.

Tassone argues that this is what the system had promised. He claims to have done nothing wrong by including plenty of overtime to his basic salary immediately prior to retiring. He fails to understand how the guy who did all the hard work and kept to his side of the bargain has now become the cause of the troubles."

Source: foreclosurewarehouse.com

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