Santa Clara County cap annual pensions at $220,000 and use proceeds to help severely mentally ill, homeless.

The Los Angeles Times reported on Dec. 12 “dozens of retired Los Angeles (city) employees are collecting such generous retirement pay that they exceed pension fund limits set by the IRS, saddling taxpayers with additional costs. Their lavish pensions forced the establishment of an Excess Benefit Plan to pay what the pension system cannot legally cover.”

Unfortunately, this same insanity exists locally.  Santa Clara County pays out pensions above the $220,000 IRS annual limit. Property owners pay a pension tax every year (mine is $430) that is dedicated to pensions for county employees. Excessive county pensions are covered by the general fund at the expense of the poor, who rely heavily on county government for assistance.

Santa Clara County should emulate the City of San Jose and cap annual pensions at $220,000 (Social Security is $33,456) and utilize the proceeds to help the severely mentally ill and homeless in our neighborhoods.

Pierluigi Oliverio
Former San Jose Councilmember