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> I always think, what would our system look like if we adequately funded our programs? Would the DMV be such a cesspool? I suggest looking at the article's in
by parennoob 10y ago
> I always think, what would our system look like if we adequately funded our programs? Would the DMV be such a cesspool?
I suggest looking at the article's interactive graph. It tells me that
> DMV managers with at least 30 years' service earn an average yearly pension of $51,572. And they are eligible to retire at 55.
Now I don't vouch for the veracity of any of those numbers, but assuming they are somewhat accurate – $55,000/yr for life for 30 years of work (assuming you start at 25) sounds like pretty good funding to me.
- mywittyname 10y ago> $55,000/yr for life for 30 years of work (assuming you start at 25) sounds like pretty good funding to me. It would take about $2MM to earn that yearly in dividends from an S&P500 index fund, which is more than they would have earned in salary over that time. Let that sink in for a second and you'll release how screwed up this system is. These people would need a 80-100% match to have an equivalently valued 401k after 30 years of service. No sane company would offer that.
- ec109685 10y agoAnother way to look at it would be that DMV managers make the equivalent of $100k at a private sector job, which isn't likely that far fetched.