Posted: 12/05/2011 02:37:18 PM PST
Updated: 12/05/2011 10:10:29 PM PST
At its meeting Tuesday to discuss reforms to the city's retirement system, the San Jose City Council shows every sign of inflicting a numbing new language on voters: "Pension."
Because this is an all-service column, let me introduce you to a basic lexicon. The key thing to remember about Pension is that any time you come across a term that sounds like English, it does not mean what you think it does.
COLAS:
A classic example of Pension's pitfalls. Bet you thought we were
talking Coca-Cola, Pepsi or RC, maybe even Red Bull or Zam Zam.
Naturally, it couldn't be so easy. COLA stands for cost-of-living
allowance.
Forget any health advice. If you're an employee, a COLA is
always good. If you're a taxpayer, not so much.
VESTED RIGHT: Sounds like good sartorial advice, doesn't it? Get yourself a sharp vest, maybe a leather number with pockets for every tool under the sun, and you'd be vested right. But no: In Pension, a vested right means anything promised to an employee since third grade, including your oxblood marble collection and that sweet 1973 Camaro in your garage.
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Submitted by Todd Bray
2 comments:
Big mouths wife work gets money to operate from the city of San Jose and the State of California
pot kettle black
If true, then unlike you, he'd be an expert. Or, are you an expert, too?
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