We’ve all heard the horror stories about how many retired seniors not having enough income to cover basic living expenses, but there are retirees who live large on annual incomes that put most workers’ pay to shame! If you retire from Wicomico County service, you have the potential of raking in big bucks, watching Dr. Phil reruns on OWN all day!
And the best part is, it’s all on your dime! Yes, taxpayers working one, two or possibly three jobs to irk out a meager existence are footing for this rather hefty bill.
Reality is this: some retirees make in upwards of 80+% of their largest salary during their service (formula below). For example, well-known retiree, Matt Creamer, pulls in around $100K per annum, while his fellow retiree, Ed Baker, pockets around $50K per year. This income is in addition to their Social Security and any 401K or other investments payouts. Additionally, County retirees get 85% of their healthcare/prescription costs covered by taxpayers while 75% of their spouses’ medical is covered, too. (Guess it pays to marry a County employee, too.)
Stunning amounts considering most private sector and lower paid County retirees rely solely on meager Social Security payments and unstable 401K returns which, depending on who’s in the White House, can fluctuate like the Great Wonder at Six Flags!
To be or not to be Equal… the real question!
This percentage is formulated like this: 2% is a year multiplied number of years at an average of the worker's highest pay while employed. Meaning, the hefty 80+% is not for everybody retiring from the County – only a very select few. Hardly equal except for the health insurance payouts.
Who’s responsible for this…
We can hardly place all the blame the one Democrat member when the rest are registered Republicans. We also can’t point fingers at County Executive Bob Culver for this fiscal inequality because he’s seldom even consulted by the Council when they slash and trash the yearly budget. Example: Council, violating the County Charter, did away with the Correctional officers’ raises after their training period without consulting anyone during the last budget sessions? Hence, this all falls squarely on them.
Are you happy your tax dollars are going towards enriching a select few while you look at possibly struggling to make ends meet when you retire? Essentially, you’re paying for someone else to afford a spiffy new Mercedes while you drive a late-model hunk of junk…