Wednesday, May 18

YOU DO THE MATH AND THINK ABOUT YOUR OWN SITUATION

Legislators in Texas work part time for the Lone Star State, earning $7,200 annually for the 140 days the state legislature is in session every other year. After 12 years of service and as early as age 50, they can begin drawing a minimum state pension of $34,500 (more, if they've served longer than 12 years). In addition, they receive health insurance for themselves and their dependents.

By the way, I know this math doesn't appear to make sense. There's a small wrinkle in the pension formula for legislators -- their pension calculation is predicated on a district court judge's annual salary, not that of a part-time state legislator. Bump the judges' salaries and you bump your pension contribution. Yesterday they bumped district court judges' salaries by a modest 23% to $125,000 with a "non-recorded voice vote" and that concomitantly kicked legislator's minimum annual pensions by $6,431 annually. What was it ol' Cool Hand Luke used to say: Kick a buck!

Your "public servants" at work! Don't you just love your job in private industry? Ask United Airlines' employees about their pensions!

Source: Houston Chronicle