November 10, 2011

Pensioners Above Pay

Justin Katz

I've added some different cuts of the data concerning RI public-sector pensioners who make more in pension than they did in pay. The most significant takeaway is that COLAs alone don't account for the phenomenon; the top 50 pensioners making more than their salaries have base pensions (not counting COLAs) that are 95% of their salaries.

It really wouldn't be unreasonable for legislators to address "earned benefits" in their reform efforts, considering the unjustifiable generosity of deals granted in the past.