ANN ARBOR–A report released today by Taxpayers United of America (TUA) reveals that retired Ann Arbor government employees are not only receiving lavish, gold-plated pensions, but that their estimated pension payments in many cases are larger than some salaries in the private sector. Furthermore, over a normal lifetime, many of these government employees, when they retire, become pension millionaires.
“While Ann Arbor stagnates with 8% unemployment, a median home value of $223,000 and an average annual wage of $52,000, retired Ann Arbor government employees are enjoying lavish, gold-plated pensions that have made some of them pension millionaires,” said Christina Tobin, TUA Vice President.
Click below to view:
“Ann Arbor retired government employees are doing much better than the average Ann Arbor worker in the private sector. Thomas Schmid receives an annual pension of $126,224 — $10,519 a month. Schmid’s estimated lifetime pension payout is $3,930,617.”
“Retired from the city of Ann Arbor, William Wheeler receives an annual pension of $121,861 — $10,155 a month. Wheeler’s estimated lifetime pension payout is $4,321,177.”
“Another retired city employee, James Wallace receives an annual pension of $119,891 — $9,991 a month. Wallace’s estimated lifetime pension payout is $3,668,673.”
“Retired Washtenaw County employee, Ronald Schebil receives an annual pension of $58,316. Schebil’s estimated lifetime pension payout is $2,067,878.”
“Ronnie D. Blackwell, also a retired Washtenaw County employee, receives an annual pension of $55,057. Blackwell’s estimated lifetime pension payout is $1,982,042.”
“Ann Arbor and Washtenaw County pension systems are making millionaires out of public employees at taxpayer expense. Ending pensions for all new government hires would eventually eliminate unfunded government pensions; putting new government hires into social security and 401(k)s would achieve this. If each current government employee were required to contribute 10% toward his or her pension, taxpayers would save billions of dollars.”
“We need to knock all politicians out of office who make deals with bad government union bosses and bad corporate power brokers at the expense of the taxpayers.”