Friday, November 20, 2009

Interesting November Pension Board Meeting

The pension board held it's November meeting. One item discussed was the possiblity of an early retirement window.

Click here for the minutes.

3 comments:

Anonymous said...

Thats grrrrrrrreat ! Get them off the Dekalb Co payroll to balance the budget and dump them on the pension. Not good for the pension in a bad investment environment.

I'm Ron Burgandy? said...

Wow. Never ceases to amaze me. What cologne you gonna go with? London Gentleman, or wait. No, no, no. Hold on. Blackbeard's Delight.

LoFlyer said...

I haven't heard a word about the pension meeting as of 11/22 so I am assuming no decision was reached. With the down economy and the pension fund loss of value, dumping 500 new pensioners into the system will be a big outlay for the fund and can only be recovered by larger contributions from the county and employees. As a guess I would imagine that the proposed employee and county pension contribution would have to double to meet the additional outlay. Several thoughts here, Would the employees and county rather pay a slightly larger percentage of our revenue to avoid painful RIF's of the employees and resulting political fallout to the CEO and BOC because you know their staffs will receive "token" RIF's while more valuable assets are RIF'ed from the county. Over the last decade the county has enlarged the high-paying management and director positions while continuing to pare the work-force to the bare minimum to do the job efficiently. RIF'ing 20-30 percent of the management positions could be done for far less loss of service to the citizens than RIF'ing 7-10 percent of the county workforce for the same savings.
I read the BOC wants to enact state legislation abolishing the CEO position and establishing a county manager. I expect this to gain traction and pass within a couple of years. Note to Burrell Elliss and staff: Hiding budget information and acting like jerks to the BOC and county employees will not help your cause or your jobs.