LePage Exempts Own Pension From Budget Cuts

[Maine-ah]

Source: Kennebec Journal

Under Gov. Paul LePage's proposed budget, teachers and other state employees will be required to increase their contributions to the pension system, from 7.65 percent of their salary to 9.65 percent.

One public employee currently paying 7.65 percent, however, won't see an increase.

The governor has exempted himself.

While public employees and teachers face this increase, as well as a raise in the retirement age, a freeze on cost-of-living adjustments for current retirees and a 2 percent cap on future cost of living increases, LePage's personal contribution rate to the retirement system will remain the same, which means he'll be paying $21,420 over four years.

Read more: http://www.kjonline.com/opinion/columnists/lepage-exempts-own-pension-from-budget-cutbacks_2011-03-12.html

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I guess thats 4 paragraphs...worth the click on the link to read the rest.

[liberal N proud]

1. Isn't that special.

[dionysus]

2. i weep for my home state. oy vey.

[Angry Dragon]

3. conflict of interest and unconstitutional

After four years he can retire on $26,600/year and that is more than he will have paid in and he will collect that for the rest of his life. That is more than a lot of people make in a year of working. It is time to stop these elected officials from raping everyone else so they can live fat

[eShirl]

4. Who does he think he is, the Franco Boss Hogg?

[jpak]

5. Well I hope he cuts his daughter Lauren's pension - making $41k as a staff member with only a BS

Let's also hope she doesn't grow a "little beard"

yup

[pscot]

6. This is basically all you need to know

about the regressives: Take care of themselves at our expense.

[Historic NY]

7. Tax cut, tax cuts, must have tax cuts for the rich, they contribute so much to society.

sold out again.

[valerief]

8. Blatant assholian thieves.

Unlike teachers and state employees, however, the size of the governor's pension doesn't depend on how long he pays into the system. As soon as he leaves office, he'll begin receiving a three-eighths of his salary, which works out to $26,600 annually.

For comparison, a Maine teacher would have to work for more than 25 years to receive this level of benefits.

[dionysus]

18. "assholian"... very apt description

:thumbsup:

[aquart]

9. People used to have respect for Maine.

Now, patsies.

[Maine-ah]

12. before you even go there

keep in mind, he was elected with only 38% of the vote.

[dionysus]

13. in my home town of sanford we won literally by handful of votes i was told

[Maine-ah]

15. just to clear up my confusion

should "we" be "he"?

[dionysus]

17. yes, you would be correct! goddamn keyboard.

:blush:

[Corruption Winz]

10. Wow. What a trooper.

So, one of the people that makes the most money doesn't pay, it's the teachers and the people that make less money have to pay more. Interesting.

Perfect microcosm of this entire country.

I hope every year he is mugged for the exact difference that additional 2.0 accounts for.

[Lucky Luciano]

11. Totally unsurprising. nt

[Citizen Worker]

14. The oligarchy and their hand maiden politicians get away with this because we let them. If we were

in the streets raising hell they wouldn't even think about such a blatant move.

[JohnWxy]

16. and if you think his logic is a little wierd, he would say "You can kiss my butt."

http://tpmdc.talkingpointsmemo.com/2011/01/maine-gov-lepage-naacp-can-kiss-my-butt.php">Maine Gov. LePage: NAACP Can 'Kiss My Butt'