Wednesday, April 22, 2009

Quitters Big Winners in Severance Jackpot

In the pay hike and gold-plated pension outrage in 2007, B.C. MLAs approved a severance package for themselves that no taxpayer could hope to get in the private sector.

MLA's, even those who only served one four-year term, are eligible for a full 15 months of severance, putting taxpayers on the hook for more than $127,000 per MLA who is either defeated, decides not to run again or quits.

As 12 MLAs have already announced they would not be running in the election on May 12, taxpayers are already on the hook for $1.5 million in severance payout. If 41 seats change hands as they did in the 2005 election, taxpayers are on the hook for $5.2 million.

Not only that, no waiting period means MLAs can go on the dole on May 13, one day after the election -- no two week waiting period for them.

If an MLA gets a job that pays less than their base salary, that went up to $101,859 on April 1, taxpayers will top it up. If the MLA decides to quit that job within the 15 month severance period, he can go back on the taxpayer dole!

This is a blatant pocket-lining exercise that must end.

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