San Diego Fire Chief retires at 53 with $123K/yr pension for life…

[PadreBrian]

THANK GOD they are cutting that retirement plan. Good lord that thing would have milked us dry.

[Aecetia]

It is fraud and the best way to fix it is prosecute those who engage in it. Anyone with any serious time in law enforcement has some kind of physical damage. It is the nature of the work.

[Aecetia]

It is fraud and the best way to fix it is prosecute those who engage in it. Anyone with any serious time in law enforcement has some kind of physical damage. It is the nature of the work.

[Aecetia]

It is fraud and the best way to fix it is prosecute those who engage in it. Anyone with any serious time in law enforcement has some kind of physical damage. It is the nature of the work.

[Aecetia]

It is fraud and the best way to fix it is prosecute those who engage in it. Anyone with any serious time in law enforcement has some kind of physical damage. It is the nature of the work.

[Aecetia]

It is fraud and the best way to fix it is prosecute those who engage in it. Anyone with any serious time in law enforcement has some kind of physical damage. It is the nature of the work.

[BGinRB]

[quote=UCGal][quote=LarryTheRenter]A sole proprieter would have to have a 2 million dollar retirement fund which yields 6% per year which would get you the $10,000 per month..

So obviuosly the fireman/woman didnt kick in this much him/herself…it is the taxpayers that are getting bled.[/quote]

A sole proprietor often has equity in the business that they can sell/cash out when they retire.

I’ve seen it happen a lot. Build a business – sell it, retire on the proceeds.[/quote]

Or more likely, invest time and money, see the business fail.

The risks of termination/failure with public employment are minimal. You cannot claim job safety as a replacement for the lower compensation, and then defend $100K guaranteed pension (paid medical for life include?) with CEO pay.

Or you can.

[BGinRB]

[quote=UCGal][quote=LarryTheRenter]A sole proprieter would have to have a 2 million dollar retirement fund which yields 6% per year which would get you the $10,000 per month..

So obviuosly the fireman/woman didnt kick in this much him/herself…it is the taxpayers that are getting bled.[/quote]

A sole proprietor often has equity in the business that they can sell/cash out when they retire.

I’ve seen it happen a lot. Build a business – sell it, retire on the proceeds.[/quote]

Or more likely, invest time and money, see the business fail.

The risks of termination/failure with public employment are minimal. You cannot claim job safety as a replacement for the lower compensation, and then defend $100K guaranteed pension (paid medical for life include?) with CEO pay.

Or you can.

[BGinRB]

[quote=UCGal][quote=LarryTheRenter]A sole proprieter would have to have a 2 million dollar retirement fund which yields 6% per year which would get you the $10,000 per month..

So obviuosly the fireman/woman didnt kick in this much him/herself…it is the taxpayers that are getting bled.[/quote]

A sole proprietor often has equity in the business that they can sell/cash out when they retire.

I’ve seen it happen a lot. Build a business – sell it, retire on the proceeds.[/quote]

Or more likely, invest time and money, see the business fail.

The risks of termination/failure with public employment are minimal. You cannot claim job safety as a replacement for the lower compensation, and then defend $100K guaranteed pension (paid medical for life include?) with CEO pay.

Or you can.

[BGinRB]

[quote=UCGal][quote=LarryTheRenter]A sole proprieter would have to have a 2 million dollar retirement fund which yields 6% per year which would get you the $10,000 per month..

So obviuosly the fireman/woman didnt kick in this much him/herself…it is the taxpayers that are getting bled.[/quote]

A sole proprietor often has equity in the business that they can sell/cash out when they retire.

I’ve seen it happen a lot. Build a business – sell it, retire on the proceeds.[/quote]

Or more likely, invest time and money, see the business fail.

The risks of termination/failure with public employment are minimal. You cannot claim job safety as a replacement for the lower compensation, and then defend $100K guaranteed pension (paid medical for life include?) with CEO pay.

Or you can.

[BGinRB]

[quote=UCGal][quote=LarryTheRenter]A sole proprieter would have to have a 2 million dollar retirement fund which yields 6% per year which would get you the $10,000 per month..

So obviuosly the fireman/woman didnt kick in this much him/herself…it is the taxpayers that are getting bled.[/quote]

A sole proprietor often has equity in the business that they can sell/cash out when they retire.

I’ve seen it happen a lot. Build a business – sell it, retire on the proceeds.[/quote]

Or more likely, invest time and money, see the business fail.

The risks of termination/failure with public employment are minimal. You cannot claim job safety as a replacement for the lower compensation, and then defend $100K guaranteed pension (paid medical for life include?) with CEO pay.

Or you can.

[pedrocon]

Wrong. Fire chief is not CEO. You don’t need to become an expert in finance, understand investment strategy, operations, staff with many distinct responsibilities. Plus (financial crash aside), when you run a company (that isn’t too big to fail) you actually need to deal with issues of revenue, profit margins, credit. The list goes on and on and on.

Firefighters go to fire school (some don’t). Learn industrial first aid and so on. They spend most of their time at the firehouse washing trucks (unless the station is downtown or some high density area where there is more action). The fire chief is a unionized government employee. No actual accountability. They pet a few dogs, kiss a few babies, and answer a few questions from reporters. Work 20 or 25 years and get their salary for the rest of their lives.

Actually, the Fire Chief is really just a politician not a CEO.

[pedrocon]

Wrong. Fire chief is not CEO. You don’t need to become an expert in finance, understand investment strategy, operations, staff with many distinct responsibilities. Plus (financial crash aside), when you run a company (that isn’t too big to fail) you actually need to deal with issues of revenue, profit margins, credit. The list goes on and on and on.

Firefighters go to fire school (some don’t). Learn industrial first aid and so on. They spend most of their time at the firehouse washing trucks (unless the station is downtown or some high density area where there is more action). The fire chief is a unionized government employee. No actual accountability. They pet a few dogs, kiss a few babies, and answer a few questions from reporters. Work 20 or 25 years and get their salary for the rest of their lives.

Actually, the Fire Chief is really just a politician not a CEO.

[pedrocon]

Wrong. Fire chief is not CEO. You don’t need to become an expert in finance, understand investment strategy, operations, staff with many distinct responsibilities. Plus (financial crash aside), when you run a company (that isn’t too big to fail) you actually need to deal with issues of revenue, profit margins, credit. The list goes on and on and on.

Firefighters go to fire school (some don’t). Learn industrial first aid and so on. They spend most of their time at the firehouse washing trucks (unless the station is downtown or some high density area where there is more action). The fire chief is a unionized government employee. No actual accountability. They pet a few dogs, kiss a few babies, and answer a few questions from reporters. Work 20 or 25 years and get their salary for the rest of their lives.

Actually, the Fire Chief is really just a politician not a CEO.

[pedrocon]

Wrong. Fire chief is not CEO. You don’t need to become an expert in finance, understand investment strategy, operations, staff with many distinct responsibilities. Plus (financial crash aside), when you run a company (that isn’t too big to fail) you actually need to deal with issues of revenue, profit margins, credit. The list goes on and on and on.

Firefighters go to fire school (some don’t). Learn industrial first aid and so on. They spend most of their time at the firehouse washing trucks (unless the station is downtown or some high density area where there is more action). The fire chief is a unionized government employee. No actual accountability. They pet a few dogs, kiss a few babies, and answer a few questions from reporters. Work 20 or 25 years and get their salary for the rest of their lives.

Actually, the Fire Chief is really just a politician not a CEO.

[Author]

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