Philadelphia Not Just Known for Brotherly Love

Apparently Philadelphia is also the place to collect a huge pension as an elected official while still working for the city.

City Councilwoman Marian Tasco will retire on Friday, collect a six-figure pension payment and then return to work after she is sworn-in on Monday to serve her seventh term.

Francis Bielli, executive director for the city’s Board of Pensions and Retirement, said he was recently notified that Tasco, who is enrolled in the controversial Deferred Retirement Option Plan, will retire on Friday and collect $478,057.

Tasco was reelected despite her participation in DROP, which drew public ire after elected officials entered the program, ran for re-election and retired for a day to get hefty pension payments, only to return to office.

Retiring Councilman Frank DiCicco, who is also in the program, considered running for re-election, but after controversy erupted over DROP, he decided not to. Retiring Councilwoman Donna Reed Miller, who is also enrolled in DROP made a similar decision. Councilman Frank Rizzo lost reelection due in-part to his participation in DROP. Retiring members Jack Kelly and Council president Anna Verna are also DROP participants.

However Councilwoman Tasco isn’t the only elected official in Philadelphia “retiring” and returning to work the next day.

Another elected official set to return after collecting his DROP payment is Register of Wills Ronald Donatucci, who retired Dec. 23 and will also return on Monday, Bielli said. He collected $366,797.

Perhaps the coverage of this, coupled with new council members in January, will help Philadelphia mayor Nutter achieve his goal of abolishing the program.

Mayor Nutter has tried in vain to eliminate the DROP program. In September, Council voted to override Nutter’s veto of a bill, sponsored by Tasco that would preserve the DROP program, while reducing its cost.

Nutter has vowed to work “tirelessly” to abolish the program.

A prime example of elected officials looking out only for themselves, not the well-being of the citizens they represent.

H/T – The Daley Gator

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Brett Favre called “Drama Queen” by agent

Brett Favre at the 2006 Seahawks game - croppe...
Image via Wikipedia

This should come as no surprise as the ritual of the last few years is playing out when it comes to Brett Favre and retirement.

For the third straight summer, no one knows what Brett Favre will decide. Will he return? Will he retire? He is dragging out the process, yet again. Now, even Favre’s own agent, Bus Cook, is tired of the drama. According to Men’s Journal, Cook angrily ranted to Favre about him contacting ESPN’s Ed Werner to state that he needs ankle surgery to play in 2010.

“Now why did he do that,” Cook said to Men’s Journal. “…Goddammit, why does he have to be such a goddamned drama queen? Play, don’t play, goddamn, people are getting sick of it. I’m getting sick of it!…You got problems with surgery, talk to your wife. Why talk to goddamned Ed Werder?”

Favre’s decision process is progressing at the usual pace: very slowly. (Source: Huffington Post)

So Bus is finally figuring out what was pointed out two years ago?

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Leno on Brett Favre

JAY LENO: Congress says it wants to vote to raise the retirement age to 70. They want to raise the retirement age to 70.

(Audience boos.)

No, they plan to vote to not let Americans retire until they’re 70. I think that’s fair, because a lot of Americans plan to vote to retire them in November.


Actually, I’ll tell you something, and you won’t hear this on any other show. You know the real reason they’re raising the retirement age to 70? So Brett Favre can keep playing.

(H/T – Freedom Eden)

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Budget deficit? Who cares?

State workers can’t deal with losses to their retirement funds.  So taxpayers have to pay for an increase in the state’s contribution.

State government, school boards, municipalities and counties may have to increase contributions to employees pension funds by 0.6 percentage point.

The increase before the state Employee Trust Funds board would start in 2010 and affect about 90 percent of the 263,000 active workers in the state retirement system.

If approved, the base contribution rate would go from 10.4 percent to 11 percent, which is a 5.8 percent increase. Most employers, including the state, cover the entire amount, said board spokesman Matt Stohr.

The state has a fund set aside to pay for contribution rate increases, though it’s unclear how that will affect the state’s $6.6 billion budget shortfall. The governor’s budget director did not immediately return a message seeking comment Wednesday.

The increases are needed because of the recession, which resulted in a dramatic loss to the state’s retirement funds last year. The core retirement fund that all 146,000 retirees participate in lost 26.2 percent in 2008, while the variable fund, which about 25 percent of retirees participate in, lost 39 percent.

Core fund participants had a 2.1 percent pension cut while those in the variable fund lost 25 percent. (Source: Pension hike recommended for Wisconsin – Green Bay Press-Gazette)

Where’s the reality check – everyone lost money in their retirement funds last year.  Deal with it just like the private sector has to.

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