Police Chief Got $204,000 Pension After Eight Months -- A Portrait Of A City Now BankruptBloomberg
Aug. 03, 2012
NY Times Reporter Accuses White Women of Having 'Racist' Walking Habits
FBI 'Seized Smashed Hard Drives' From Wasserman Schultz's Pakistani IT Guy's Home
Assange: 'CIA Not Only Armed Syria's Insurgents--It Paid Their Salaries'
Fmr CIA Director John Brennan Calls For Coup If Trump Fires Robert Mueller
Antifa Activist Yvette Felarca Charged With Assault, Rioting For Role In 2016 Sacramento Capitol Brawl
Stockton, California, Police Chief Tom Morris was supposed to bring stability to law enforcement when he was appointed to the job four years ago.
He lasted eight months and left the now-bankrupt city at age 52 with an annual pension that pays more than $204,000 -- the third of four chiefs who stayed in the position for less than three years and retired with an average of 92 percent of their final salaries.
Stockton, which filed for bankruptcy protection on June 28, is among California cities from the Mexican border to the San Francisco Bay confronting rising pension costs as they contend with growing unemployment and declining property- and sales-tax revenue. The pensions are the consequence of decisions made when stock markets were soaring, technology money flooded the state, and retirement funds were running surpluses.