Marinwood CSD approves another Tax Exempt Disability Retirement
Channel: Save Marinwood
Date: 21/05/2016

May 10, 2016  Marinwood CSD approves the full disability retirement of John Bagala, Marinwood Fire Captain.  The retirement is 50% tax exempt and includes lifetime medical care.  Our tiny Marinwood CSD budget will see the retirements of many senior Fire Department staff in the next few years. In actuarial terms these pensions have a present worth of millions compared to annuities of comparable value.  It is financially unsustainable for our small district to pay for these defined benefit plans.