Philly Councilwoman back after retiring one day; gets $478K payday via loophole
Posted Monday, January 2, 2012, 12:54 PM
As described in an article by Becket Adams for Glenn Beck's news website, The Blaze, Marion Tasco, a Democrat City Councilwoman in financially more-than-precarious Philadelphia, returns to her position today after "retiring" for one day yesterday, in order to take advantage of a loophole which will reward her with (and cost taxpayers) $478,057.
According to Adams's article, "Philly Councilwoman Will ‘Retire’ for One Day, Collect a $478K Pension, and Return on Monday":
Marion B. Tasco, who has been described as being “politically savvy,” will retire from her sixth term as councilwoman, collect $478,057, and then be sworn in on Monday to serve her seventh term, Catherine Lucy and Chris Brennan of the Philadelphia Daily News.
Additionally, according to Tasco's article:
Tasco, along with many of her fellow Council members, is enrolled in Philadelphia’s Deferred Retirement Option Plan (DROP). DROP allows city workers to collect salary and build up pension money during the last four years of their employment, writes Aaron Kase of Philadelphia Weekly.
Naturally, when DROP was originally introduced, it was touted as being “revenue neutral.” It’s been anything but that. SInce its introduction, Philadelphia’s DROP program has cost the city $258 million in extra pension costs over a decade, according to a 2010 Boston College study.
Among the outraged comments left to Adams's story were the following:
" Favored93": "I can’t tell you guys just how much this pisse$ me off!!! This is corruption…. but that is not even the worst of it…. this is IN YOUR FACE OBVIOUS CORRUPTION!!!!!!! 'I have been her long enough to screw the American people with my policies and now I will screw them out of almost a half a million dollars and another term in office to screw them MORE!!!!!' "
"GERATMO": " These people forgot what the intention of public service really is. Its not supposed to be a career, its supposed to be a service to your community then you quit and get on with your life. This will never change as long as we have Liberals in office."
"Balthazor": "Nobody’s been duped by anyone. Odds are good that the overwhelming majority of her constituents are not actual taxpayers, and are probably delighted that she’s 'gettin hers' from 'the man'."
http://www.examiner.com/jewish-cultu...y-via-loophole
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