Sunday, July 07, 2013

Taking care of retirees

Perhaps, I should have worked for the Long Island Railroad.  Had I worked there for 20 years and retired when I was 50 I could have received a pension from the railroad and about $2,200 each month from the U. S. Railroad Retirement Board.  The monthly sum was a disability payment, which 90% and more of the employees over 50 who had 20 or more years of service received. Between the years 2000 and 2008 it really didn't matter if you were disabled or not; you just had to go to the right doctor.  The scheme was revealed in 2008 and presumably settled.

However, the Retirement Board must work at a snail's pace, as it has just stopped payments to 600 or so of the not disabled. The cost to the taxpayer of the scheme: over $250,000,000.

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