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Public Worker Pensions Are Too Rich

By Norcross & Zywicki, New York Daily News - August 8, 2010

He did nothing illegal. At 44, Hugo Tassone retired from the Yonkers police force with an annual pension of $101,333 - thanks to overtime pay he tacked on to his $74,000 salary. Tassone told The New York Times it was the pension he could collect after 20 years of service that attracted him to the job in the first place.

He’s not alone. In the last decade, half of the police and firefighters who retired in Yonkers collected pensions that exceeded their base pay, in (at least one case) by as much as 75%.

Don’t blame the officers. New York’s pension rules make it pay more to retire than to work. And the horrible habits here are a window on a national pension picture that’s looking more disastrous by the day.

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