Monday, May 26, 2008

A sweet deal if you can get it.

Rich linked  to a Sun Times article about how an 8 week stint with the Blagojevich administration has added $37,995 a year to her pension taking it up to $102,000 a year after being in state government for 16 years.

Even the $64,005  she would have gotten before working for Rod blows my mind. A 64K a year pension for a part time job that she worked for 16 years. 

I have been drawing a paycheck as a college graduate roughly the same amount of time. During that period I have worked for 3 large companies, none of which had a defined retirement benefit. It's been all 401Ks and one where the put some money in an account that earns a guaranteed minimum interest rate (like 3%).  

I can't even imagine if at this point in my working life I had qualified for a pension like that that I could start collecting at some point.  Man, that would be sweet.

Yes, I did teach for a community college part time for a little while, but I don't know if that qualified me to participate in the defined plan if I ever got enough service credits.

Folks wonder why people get cynical about politics and government, stuff like this doesn't help.


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