The cost of retirement
We've had a couple of posts here lately on retirement perks. Here's one more.
Whether you believe former Baldwin Park Police Chief Edward Lopez was fired or retired, you can't argue he won't be taken care of in the years to come. In addition to a $70,000 severance payment, Lopez will get medical benefits and $123,000 a year for the rest of his life.
I should add that $123,000 will increase by about 2 percent each year to adjust for cost of living. His exiting salary was $140,000 a year.
No wonder Vallejo is nearly bankrupt.
Comments
Parents used to tell their children to become lawyers, doctors, and such. Now it may be more prudent to advise them to pursue a "career in public service"......it certainly pays well.
Posted by: gilman | March 4, 2008 9:26 PM