To: Homestead mailing list digest <homestead AT lists.ibiblio.org>
Subject: [Homestead] Another Golden Parachute Courtesy of Taxpayers
Date: Fri, 05 Nov 2004 19:34:49 -0800
This is the story of Armando Ruiz, who will now receive ten times the
pension as he normally would from his position as California community
college trustee, a job that only pays a minor stipend of $5000 a year.
The full story can be found at the Orange County Register website.
"The Register on Thursday reported on the case of Coast Community
College trustee Armando Ruiz who, through a legal loophole, is allowed
to spike his pension tenfold if he retires from two different agencies
on the same day. He set his official retirement date as Oct. 31 from his
job with Irvine Valley College and the South Orange County Community
College District. When asked at a public meeting if he would take
advantage of the loophole and retire as a Coast trustee on the same
date, he replied: 'None of your business.' "