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Lifetime City Pension of $50,000 a Year for 2 Years on the Job

Written by Gary North on April 25, 2012

Impossible, right? Wrong. That’s how it works in Philadelphia. A woman who worked for two years for the city has resigned. She will receive $50,000 a year when she reaches retirement age. The city professes amazement that such a loophole exists. The city vows to close this loophole to future workers. How could this loophole […]

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New Jersey State Pensions: $100,000 to $195,000 a Year

Written by Gary North on April 16, 2012

There are 1,200 people in New Jersey who pull pensions of more than $100,000 a year. Across the nation, the state pension systems are creating red ink for state and local governments. The unions negotiated these deals. Now the taxpayers are trapped. Of course, they are not trapped. These states and municipalities can declare bankruptcy, […]

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