Archive for December, 2012

City Pensions Costing $52 Million/Year More Than County

Thursday, December 20th, 2012

December 20,2012

I reported earlier on City of Memphis pensions, highest to lowest. I have the names but did not publish them in consideration of privacy. I did note a few public figures which I will do also for the county. Here are the current County pensions, highest to lowest with the names removed. Also here is the latest Shelby County pension actuarial report dated June 30, 2012.

The highest is Jim Rout Jr. at $101,406 per year and A C Wharton at $79,965. More importantly here is a comparison of the really (more…)

The Memphis Czar

Monday, December 17th, 2012

December 17, 2012

I went to a Community Redevelopment Agency meeting recently at City Hall and about 50 members of the public were present prepared to discuss and protest the Heritage Trails redevelopment proposal put forth by Robert Lipscomb. He failed to show up. You ask yourself, who is Robert Lipscomb? Good question.

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Comparison Of Pension Reports

Monday, December 10th, 2012

December 10, 2012

The July 1, 2012 actuarial pension reports are in and here is the comparison of the City of Memphis versus Shelby County. And the winner is ??????. The loser is the taxpayer.

Here is the comparison of the main points.There is a huge problem with the City of Memphis. With relatively the same number of active employees (6093 versus 5880), the City has 4913 retirees versus 3442 at the County. The annual pension benefit at the City is $151 million versus $59 million at the County. If the City (more…)

Public Pensions-What Is The Real Cost?

Monday, December 3rd, 2012

I have been investigating public pensions and I have some information for the public to consider and compare to your retirement income.

I have attached a current spreadsheet showing the current annual pension payments to retired City of Memphis employees. I have listed these from highest to lowest and in the interest of privacy have deleted the names of the retirees. I have listed below a few that are of particular interest for (more…)