TAKE THIS BOONDOGGLE AND SHOVE IT:

Many Workers in Public Sector Retiring Sooner (MONICA DAVEY, 12/05/11, NY Times)

As states and cities struggle to resolve paralyzing budget shortfalls by sending workers on unpaid furloughs, freezing salaries and extracting larger contributions for health benefits and pensions, a growing number of public-sector workers are finding fewer reasons to stay.

The numbers of retirees are way up in Wisconsin, where more applications to retire have been filed this year than ever before. Workers in California's largest public employee pension system have retired at a steadily increasing rate over the last five fiscal years. In New Jersey, thousands more teachers, police officers, firefighters and other public workers filed retirement papers during the past two years than in the previous two years. [...]

In some places, the rise in retirement has brought welcome and needed financial news. Kansas announced last month that it would save $34.5 million over two years because more than 1,000 workers had agreed to accept cash and health insurance incentives to leave. State officials said they had yet to determine which of the positions of departing workers they considered critical enough to refill. 

Posted by oj at December 7, 2011 5:56 AM
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