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June 3, 2009 at 9:43 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410124June 3, 2009 at 9:43 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410363
RichardJamesEsquire
ParticipantHer total defined benefit pension (not counting DROP) is not $123,600 annually as the U-T story reported. It’s $123,600 plus four years’ credit, which buys an addition $19,950 annual pension. The total pension (again, not counting DROP) therefore is $143,550 — plus 2% annual COL increases.
According to the Voice of San Diego article, if Jarman decides to pay out her DROP account as a 20 year annuity (guaranteed by taxpayers at 7.75% rate), she will receive annually a $33,344 payment from DROP.
Jarman’s total annual payout first 20 years: $123,600 + $19,950 + $33,344 = $176,894 – more than her $165,000 salary. No WONDER she retired!
The lesson? GET A CITY JOB!
Posted by: Richard Rider, Chairman, San Diego Tax Fighters at May 30, 2009 08:34 AMhttp://weblog.signonsandiego.com/weblogs/afb/archives/033917.html
June 3, 2009 at 9:43 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410611ParticipantHer total defined benefit pension (not counting DROP) is not $123,600 annually as the U-T story reported. It’s $123,600 plus four years’ credit, which buys an addition $19,950 annual pension. The total pension (again, not counting DROP) therefore is $143,550 — plus 2% annual COL increases.
According to the Voice of San Diego article, if Jarman decides to pay out her DROP account as a 20 year annuity (guaranteed by taxpayers at 7.75% rate), she will receive annually a $33,344 payment from DROP.
Jarman’s total annual payout first 20 years: $123,600 + $19,950 + $33,344 = $176,894 – more than her $165,000 salary. No WONDER she retired!
The lesson? GET A CITY JOB!
Posted by: Richard Rider, Chairman, San Diego Tax Fighters at May 30, 2009 08:34 AMhttp://weblog.signonsandiego.com/weblogs/afb/archives/033917.html
June 3, 2009 at 9:43 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410676ParticipantHer total defined benefit pension (not counting DROP) is not $123,600 annually as the U-T story reported. It’s $123,600 plus four years’ credit, which buys an addition $19,950 annual pension. The total pension (again, not counting DROP) therefore is $143,550 — plus 2% annual COL increases.
According to the Voice of San Diego article, if Jarman decides to pay out her DROP account as a 20 year annuity (guaranteed by taxpayers at 7.75% rate), she will receive annually a $33,344 payment from DROP.
Jarman’s total annual payout first 20 years: $123,600 + $19,950 + $33,344 = $176,894 – more than her $165,000 salary. No WONDER she retired!
The lesson? GET A CITY JOB!
Posted by: Richard Rider, Chairman, San Diego Tax Fighters at May 30, 2009 08:34 AMhttp://weblog.signonsandiego.com/weblogs/afb/archives/033917.html
June 3, 2009 at 9:43 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410828ParticipantHer total defined benefit pension (not counting DROP) is not $123,600 annually as the U-T story reported. It’s $123,600 plus four years’ credit, which buys an addition $19,950 annual pension. The total pension (again, not counting DROP) therefore is $143,550 — plus 2% annual COL increases.
According to the Voice of San Diego article, if Jarman decides to pay out her DROP account as a 20 year annuity (guaranteed by taxpayers at 7.75% rate), she will receive annually a $33,344 payment from DROP.
Jarman’s total annual payout first 20 years: $123,600 + $19,950 + $33,344 = $176,894 – more than her $165,000 salary. No WONDER she retired!
The lesson? GET A CITY JOB!
Posted by: Richard Rider, Chairman, San Diego Tax Fighters at May 30, 2009 08:34 AMhttp://weblog.signonsandiego.com/weblogs/afb/archives/033917.html
June 3, 2009 at 9:25 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410094ParticipantWhere I grew up the fire station was all volunteer. They put on a pancake breakfast once a year to raise money, everyone was there.
Young and naive, I thought SERVING as fireman was some sort of calling, respected in the community, compensated enough to make ends meet, but the compensation would have been the 3nd, 4rd, or 5th reason for choosing the career path.
Today, if I was in her shoes, I’d do the same thing. How times have changed and I’m only 34.
However jaded and cynical I have become, I could never have sat through interview after interview for promotion, spewing about how my subordinates and our city are so important to me, only to go out when it best suit me. I would prefer to retire a lowly captain self-respect intact.
June 3, 2009 at 9:25 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410334ParticipantWhere I grew up the fire station was all volunteer. They put on a pancake breakfast once a year to raise money, everyone was there.
Young and naive, I thought SERVING as fireman was some sort of calling, respected in the community, compensated enough to make ends meet, but the compensation would have been the 3nd, 4rd, or 5th reason for choosing the career path.
Today, if I was in her shoes, I’d do the same thing. How times have changed and I’m only 34.
However jaded and cynical I have become, I could never have sat through interview after interview for promotion, spewing about how my subordinates and our city are so important to me, only to go out when it best suit me. I would prefer to retire a lowly captain self-respect intact.
June 3, 2009 at 9:25 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410582ParticipantWhere I grew up the fire station was all volunteer. They put on a pancake breakfast once a year to raise money, everyone was there.
Young and naive, I thought SERVING as fireman was some sort of calling, respected in the community, compensated enough to make ends meet, but the compensation would have been the 3nd, 4rd, or 5th reason for choosing the career path.
Today, if I was in her shoes, I’d do the same thing. How times have changed and I’m only 34.
However jaded and cynical I have become, I could never have sat through interview after interview for promotion, spewing about how my subordinates and our city are so important to me, only to go out when it best suit me. I would prefer to retire a lowly captain self-respect intact.
June 3, 2009 at 9:25 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410645ParticipantWhere I grew up the fire station was all volunteer. They put on a pancake breakfast once a year to raise money, everyone was there.
Young and naive, I thought SERVING as fireman was some sort of calling, respected in the community, compensated enough to make ends meet, but the compensation would have been the 3nd, 4rd, or 5th reason for choosing the career path.
Today, if I was in her shoes, I’d do the same thing. How times have changed and I’m only 34.
However jaded and cynical I have become, I could never have sat through interview after interview for promotion, spewing about how my subordinates and our city are so important to me, only to go out when it best suit me. I would prefer to retire a lowly captain self-respect intact.
June 3, 2009 at 9:25 PM in reply to: San Diego Fire Chief retires at 53 with $123K/yr pension for life… #410799ParticipantWhere I grew up the fire station was all volunteer. They put on a pancake breakfast once a year to raise money, everyone was there.
Young and naive, I thought SERVING as fireman was some sort of calling, respected in the community, compensated enough to make ends meet, but the compensation would have been the 3nd, 4rd, or 5th reason for choosing the career path.
Today, if I was in her shoes, I’d do the same thing. How times have changed and I’m only 34.
However jaded and cynical I have become, I could never have sat through interview after interview for promotion, spewing about how my subordinates and our city are so important to me, only to go out when it best suit me. I would prefer to retire a lowly captain self-respect intact.
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