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LEG PENSIONS Lawmakers receive no salary, but pension benefits add up

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Posted: Wednesday, May 8, 2013 8:00 pm | Updated: 8:57 pm, Sat May 11, 2013.

Voters booted Republican Dan Foley from office after a decade in the New Mexico Legislature, and within months he began collecting taxpayer-financed pension benefits — even though he was only 39 years old.

By the time he turns 67 and qualifies for full Social Security benefits, Foley will have received nearly $450,000 in pension payments in exchange for the $5,000 he contributed to the plan while serving in the state House of Representatives.

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6 comments:

  • ChristineMtz posted at 4:55 am on Sat, May 11, 2013.

    ChristineMtz Posts: 54

    This is sick as our state workers are being forced to take yet another pay cut this year as they once again are tasked with shoring up the retirement fund raped and pilfered by Friends of Big Bill! Don't even add in the 15% increase in insurance deductibles they will be paying ($350 a person for 6 months) come July!

    Short staffed therefore doing 1 1/2 to 3 jobs per person, paying 1.5% more into PERA and being asked to work longer and now finding out Legislators are part of the raping and pilfering? Disgusting!

    Funny, we were just discussing what the draw would be for the headaches of being a legislator who is only paid per diem? Thank you SFNM, now we know! Ignorance was bliss!

     
  • Isaac Daniels posted at 7:10 pm on Fri, May 10, 2013.

    Isaac Daniels Posts: 37

    You're so right! I bet there is more 'Green bag' grabbing under the table than one can imagine!

     
  • prammarp57 posted at 6:48 pm on Fri, May 10, 2013.

    prammarp57 Posts: 12

    That bad news" retirement??/ thats not right....

     
  • ernest green posted at 10:31 am on Thu, May 9, 2013.

    ernest green Posts: 20

    [thumbup]

    Why do we pay pensions at all for a part-time position? Pay them a fair salary for their time and be done with it. Such a glaring symbol of abuse and self-dealing.

     
  • yurisw posted at 10:30 am on Thu, May 9, 2013.

    yurisw Posts: 4

    Our legislators may not receive a salary but they are on the dole and know how lucrative their position can be in other ways. The legislature will NEVER level the retirement system which is in trouble as it's easier to continue to be supported by the ever increasing contributions of "working constituents" than to be fair and honest to the citizens. They alone vote on these issues and they are not likely to ever "do the right thing". There is a reason we are at the top of the bad lists and at the bottom of the good ones.

     
  • sfobserver posted at 7:41 am on Thu, May 9, 2013.

    sfobserver Posts: 63

    We should pay legislators a salary and forget about these abusive retirement payments. Foley who always cried fiscal responsibility is not above taking his handout just like everyone else.

     
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