Tuesday, July 23, 2013

Disgraced former official wants pension restored

From the AP via the Sacramento Bee:  Disgraced former official wants pension restored
A disgraced former municipal official who once claimed California's largest public pension isn't giving it up without a fight.

Bruce Malkenhorst is a former administrator of the tiny city of Vernon near Los Angeles. After he retired in 2005 he was receiving an annual pension of about $500,000.

Malkenhorst later pleaded guilty to misappropriating public funds and the state cut his pension to $115,000.

The Los Angeles Times reported Monday (http://lat.ms/15cezCS ) that the 78-year-old Malkenhorst is suing Vernon to make up the difference.

His lawyers say the city is responsible for keeping his retirement benefits at the higher level, even if the state balks.
If you're in private industry, I support you making anything you lawfully can.  I still think a little voluntary egalitarianism goes a long way to preserving the free market, but go nuts.  It's not quite the same situation if you're a "public servant." 

In almost all of California (Perhaps the San Francisco Bay Area excepted), $115,000 a year is a good living.  Better than most families in California enjoy.  Why should taxpayers in an overburdened state have to pay $500,000 a year in pension costs for anyone, let alone a former public official who committed fraud?

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