Tap Into Taxpayer Apathy

As is the case in many large organizations, the staff provide direction to the board, rather than vice versa.

Jeffrey C. Hooke – The Myth of Private Equity (pages 10-11)

The quote refers to public pension boards, specifically in Maryland, but applies equally to government boards like the Union County Board of Commissioners who define the art of rubber stamping. This time a media outlet, Tapinto Westifield, noticed possibly on account the massive size of the raises the honchos employed at Union County are giving themselves (throwing in a little something for the board members as well).

For example, at this rate of salary increase, you may be interested to know what year County Manager Ed Oatman will be making over a million dollars in annual salary.

2031 at which time he could retire with a pension of about half-a-million dollars (or more if he spikes his salary in the year of retirement or gets himself made a judge for a few days).

MEMBER: OATMAN, EDWARD

ENROLLMENT DATE: 01/01/2002

EMPLOYER: UNION COUNTY

TIER: 1

From PERS handbook, page 26:

Service Retirement
Available to Tier 1 and Tier 2 members upon reaching age 60 or older; to Tier 3 and Tier 4 members upon reaching age 62 or older; and to Tier 5 members upon reaching age 65 or older . No minimum amount of pension service credit is required .
The formula to calculate the maximum annual pension for a Tier 1, Tier 2, or Tier 3 member is:
Years of Service / 55 x Final Average Annual Salary = Maximum Allowance

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