To the editor:<\/p>\n
Cape Coral taxpayers pay for one of the most expensive pension bonus schemes in Florida. Cape Coral spends about $2 million every year to operate its own standalone pension system so employees can receive nearly 50% higher pensions than school, county and state workers in the Florida Retirement System.<\/p>\n
While families struggle with high property taxes and rising city water bills, City Hall quietly expanded its Deferred Retirement Option Program \u2014\u00a0DROP \u2014 pension bonus from five years ($32.8 million) to eight years ($52.4 million) \u2014 a 60% increase in 2024 \u2014 while refusing to release the pension \u201cbonuses\u201d \u2014 pension funds accrued while still working \u2014 by employee name.<\/p>\n
Under Cape Coral\u2019s system, city employees can file \u201cretirement\u201d paperwork, but never leave their job. For eight years they collect a full paycheck and accrue full pension payments at the same time to do the same job- while paying zero into the retirement system! City employees cash out unused days off at their final highest pay, not the original pay, taking more money from taxpayers and artificially increasing their pension bonus and annual pension! https:\/\/tripledippers.org\/<\/p>\n
Cape Coral initially replied no such public documents exist responding to a formal request for City Pension Bonus data by employee. After threatening a lawsuit, limited employee pension information was provided, but no pension bonus numbers. Why? Google\u2019s Co-Pilot estimates that the City Manager Michael ILCZYSZYN annual pay $336,980, 5-year pension bonus was $1,159,353 and 8-year pension bonus will be $1,853,394. See the top 103 Cape Coral employee Pension cash bonuses at https:\/\/www.facebook.com\/LeeCountyTaxpayersAssociation <\/p>\n
These pension bonuses are funded by taxpayers \u2014 85% of whom have no pension at all. Joining the Florida Retirement System \u2014 which costs Cape Coral nothing to administer \u2014 would save approximately $2 millions every year while still providing strong, stable pensions.<\/p>\n
Outlaw or limit pension bonuses to $50,000. Those savings could finally deliver real property tax relief for Cape Coral homeowners. <\/p>\n
Please attend the \u201cTake out the Trash\u201d Town Hall Meeting at Lake Kennedy Senior Center this Saturday, Jan. 31, from 1-3 p.m. at 400 Santa Barbara Blvd., Cape Coral. https:\/\/www.facebook.com\/events\/1103612191852830 <\/p>\n
Dave Jaye<\/p>\n
Chairman, Lee County Taxpayers Association & Researcher, https:\/\/tripledippers.org\/<\/p>\n","protected":false},"excerpt":{"rendered":"To the editor: Cape Coral taxpayers pay for one of the most expensive pension bonus schemes in Florida.…\n","protected":false},"author":2,"featured_media":125582,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[209,211,210],"class_list":{"0":"post-137737","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cape-coral","8":"tag-cape-coral","9":"tag-cape-coral-headlines","10":"tag-cape-coral-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/137737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=137737"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/137737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/125582"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=137737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=137737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=137737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}