I was working on this post before I got tangled up in the attacking comments I had to address in the blogwars, so it's kind of out of order but still worthy of thinking about.
Retirement means relaxation and all the great things you worked for right? Well it didn't for Chief Hennessy when he came under attack for taking a lump sum payout for his pension. So let's explore the differences to their pension benefit AND the difference between his and Lester Godwin III's payment plan.

What's the difference between a Pension and a 401K? I wondered that myself as I've read all these arguments over the general public's outcry over a man who worked nearly 29 years to be the first firefighter to retire from Southern Manatee Fire & Rescue, Tom Hennessy. Then I wondered if Lester Godwin III had really thought it out before he let his outcry go the Bradenton Herald because the general public isn't stupid. There's been a lot of talk about Chief Tom Hennessy's pension payout of $1.6 million. The amount sounds so exhorbitant until you figure out what that equates to per year for the time he worked: approximately $57,000/year income, which is basically a percentage of his salary.




So, might we think the pension board actually did Lester Godwin a favor by securing him an income that he doesn't even have to work, but if he wanted to, COULD and RETIRE from an entirely different field if he wished with another pension or retirement plan?! Can we say shortsighted here? Goodness! In an economy where folks are and have been jobless for years, and pensions have been dissolved, this man ought to be downright grateful to get anything for the rest of his life! And it's guarnateed because TAXPAYERS can't just decide not to pay it out, and TAXPAYERS don't just go away (though they sure can become fewer which just shifts the burden to those of us left behind) so it's a sure thing! So, quit "crying"!