Some years ago there was rampant retire/rehire instances here. It was lucrative as heck for those involved. Big exposé in the media and legislators put the 1 year rule into play.
Now they do this - employee retires and comes back as a contractor. Just had someone retire yesterday who will be coming back next month as a “consultant”. -D > On Jan 30, 2021, at 5:00 PM, Mitch Haley via Mercedes <mercedes@okiebenz.com> > wrote: > > On 2021-01-30 15:23, Dan Penoff via Mercedes wrote: >> If it’s like Florida, you can’t return for a year after you have >> started your pension. When you do, you start at the bottom of the >> scale for whatever position it is that you’re coming back as. >> In other words, when you factor the (low) pay and effect it has on >> your taxes, it’s rarely worth it. > > When MI was doing buyouts many years ago, some Lottery execs took the bait. > But their jobs still needed doing. > So the state hired outside contractors through a consulting firm. > The consulting firm hired the newly retired execs. > The consulting firm paid the retired execs more than they previously made as > state employees. > The state paid the retired execs their pensions. > The state saved money by doing this, according to the state leadership. > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
