LePage Exempts Own Pension From Budget Cuts [View All]

Source: Kennebec Journal

Under Gov. Paul LePage's proposed budget, teachers and other state employees will be required to increase their contributions to the pension system, from 7.65 percent of their salary to 9.65 percent.

One public employee currently paying 7.65 percent, however, won't see an increase.

The governor has exempted himself.

While public employees and teachers face this increase, as well as a raise in the retirement age, a freeze on cost-of-living adjustments for current retirees and a 2 percent cap on future cost of living increases, LePage's personal contribution rate to the retirement system will remain the same, which means he'll be paying $21,420 over four years.

Read more: http://www.kjonline.com/opinion/columnists/lepage-exempts-own-pension-from-budget-cutbacks_2011-03-12.html

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I guess thats 4 paragraphs...worth the click on the link to read the rest.