Golden Parachute
Andrew McCabe or Andy, (as his text pals call him), graduated from college in 1993. He spent three years in a private practice firm before joining the FBI so he was basically in the work force out of college for 23 years, 20 with the FBI, it’s rumored he’s worth 11 million. His wife is a pediatrician and makes a butt load of money, between the two incomes plus investments they have no worries, Andy will be fine regardless of losing a pension.
I don’t have an issue with Andy boy’s money, I’m just wondering how you make almost $60,000 per year in pension , (plus benefits) , after twenty years work? That’s a pretty sweet gig. With politicians spouting off about how they need to raise the retirement age to 75 to save social security it must be nice to bail out at 50 like McCabe.
I’m 38 years in the work force and counting, that doesn’t include the part time jobs I worked as a teen and in high school, if I work to 70 I will have been working for fifty years.
So before he was fired Andy McCabe had the option to retire at 50 after 20 and I retire at 70 after 50, seems one might say……assbackwards.
I don’t disparage McCabes ability to retire early, I’m quite envious, I am pissed that Andy and his fellow government employees get that opportunity while the private sector is expected to work a few decades longer to pay for it.
6 thoughts on “Golden Parachute”
And therein lies the financial basis for the Deep State and why they fight tooth and nail to keep it that way.
every government pencil pusher will make more in pension than the average worker makes in a year of working. why do you think so many people want a government job. they run the country, they run us. they are free, we are not. most of the money that goes to ssi and medicare and mediaid is used to pay these slugs salaries and benefits with whats left over going to retirees. we need to abolish 90% of the federal government and make these slugs get real jobs. the entire country would be better off.
bob – Amen!
You’re only touching the surface here Jeff. Look at all of those whose 401K accounts were raided or lost big time due to incompetence but deemed too big to fail. Due to medical issues we were forced to dip into my wife’s 401K – they raped us. Ten percent penalty? Nope more like 50% penalty and taxes after it as all said and done. Socialist Security is a joke. I’ve advocated dumping since before I could even pay into in. Now I am within sight of collecting, I STILL say scrap that crap. Of course, I don’t expect to retire – ever – with or without it. Are you on SS and say you don’t get enough to live on? Well don’t make too much money because then they will reduce your “benefit”. Tell me, please tell me ol’ Andy’s pension are subject to the same rules. Not hardly. He could work full-time at a $500,000 per year job and STILL collect. And guess who pays for it all?
I work for a municipality in SC and I am retiring next June. I will be 53 and will bring home 70% of what I make now, (49,000), for the rest of my life and if I want to get a full time job somewhere else, my benefits are not affected. Also, my insurance is free for the rest of my life, (90% policy, The company is self insured), and family coverage is $100 a month. My wife has to come off of the ins when she starts collecting SS and goes on Medicare at 67, she is 51. I will still be covered and still get my pension. I had to work 28 years to get my pension. It is PEBA, Public Employee Benefits Authority. They changed the retirement plans about 15 years ago to where new employees and anyone with less that 10 years of service has to work until their years of service and age equal 90.
Kevin – To say I’m jealous would be an understatement. Congrats on the city gig, most people don’t enjoy that kind of generous benefits. I guess if we all worked for a state, city, or federal job we would all be stylin’.