$1.1 Million: Cash Payout to one Firefighter at Retirement and then STARTED his annual Pension of $149,420-for life. He retired at 54.
$955,000: Cash Payout for another Firefighter. He then started a $130,000 pension for life. He retired at 53.
See the list of Firefighter retirees below:
Average Cash payouts at Retirement: $679,672
Average Yearly Pension: $111,296
Average Age at Retirement: 53
24 Firefighters cashed out over $16 million in retirement and then started their pensions.
Every single city employee (Everyone) gets both a Cash Payout AND a Pension.
Vote YES 487/Stop Pension Abuse
We all love our firefighters and respect them for the hard work they give our city. You’re probably wondering why they’re coming in droves to our neighborhoods handing out misleading information on pension reform? Especially since they’re clearly excluded from the pension reform proposal. Why, because they’re concerned that they may be next for reform.
The numbers from above are from Budget and Research and from the state of Arizona Retirement plan (PSPRS).
Why does pension reform matter? Without reform you will see more:
New and higher taxes: Phoenix passed a new water tax on you to pay for pension spiking.
Cuts in Service: Phoenix is short over 500 police, cuts were made to seniors, libraries, seniors and children.
The government unions are doing all they can to undermine your vote. They want to keep everything…the way it is. Their union and their spokesman are purposely using strong arm tactics to attack people who support pension reform.
Here are the numbers:
What does 487 do?
* It immediately stops pension spiking. This alone would save over $19 million per year
* Fixes the broken pension system saving over $400 million.
* Allows current employees to keep everything they have earned.
* Makes new employees get the same retirement benefits you get. Moving all newemployees to a 401(K).
*Police and Fire are clearly excluded from the proposal.
Vote YES 487
My best to you and your family,
Phoenix City Councilman