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Joe Arnold
joe arnold

Lawmakers Who Switch Jobs Help Own Pocketbook

9:06 AM Sat, Jul 26, 2008 |
Mark Hebert

Wonder why state lawmakers want to switch state government jobs? It's no longer a secret thanks to Ryan Alessi's story in the Lexington Herald-Leader. Here's the right link for the story for those of you who couldn't open it before.



2 Comments

Buddy Adams said:

could not pull the H-L story What jest of it??

RR said:

Current CERS retirement allows one to receive 2.2%
times the number of years served.....times the average of the high 3 or 5 years. So one can work as a magistrate for 15 years at a $10,000 salary and
5 years as a department head of County government with an Average of $50,000. That person's retirement would be 2.2%times 20= 44%times $50,000
equals $22,000. There is a 6.5% deduction for each year the retiree is less than 65 years old. That deduct is waived if the retiree has 27 or more years of service. I think the state multiplier is 1.9%.


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