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Broke L.A. Cuts Million Dollar Checks to Cops and Firefighters

Truth Dig by Peter Z. Scheer

A little-known pension scheme in the City of Angels lets public safety workers double-dip at the taxpayers’ expense.

The Deferred Retirement Option Plan allows longtime police and firefighters who game the system right to retire with lump sum payments that average around $300,000, but go as high as $1 million. This in a city that is running at least$150 million in the red.  

Voters in L.A. recently rejected a half-cent sales tax increase that would have helped reduce the city’s budget deficit.

http://www.truthdig.com/avbooth/item/broke_la_cuts_million_dollar_checks_to_cops_and_firefighters_20130322/

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One Response to Broke L.A. Cuts Million Dollar Checks to Cops and Firefighters

  1. # 1 NWO Hatr says:

    “The Deferred Retirement Option Plan allows longtime police and firefighters who game the system right to retire with lump sum payments that average around $300,000, but go as high as $1 million”

    Once the SHTF, we’ve got a MUCH better retirement plan in mind (at least for the cops).

    A PERMANENT retirement plan.

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