LIRR- The First Domino Falls
The New York Times reports this morning that there has been an arrest in the Long Island Railroad disability scheme. As you know, I have been a bit obsessed with this story as it is the intersection of two of the larger areas of my work life, NYC and occupational disability.
Based on my initial reading of the story, the gentleman arrested is, to quote Lee Harvey Oswald, a patsy. I would opine that AG Cuomo is using this maneuver to show the world that he is serious about this probe. There will be far larger fish than this to be fried.
I would love to see this type of scrutiny come to other forms of disability retirement, specifically Social Security Disability Retirement. If you are awake, you’re aware that the Social Security Trust Fund is in precarious territory. There are now two workers for every one person receiving Social Security. This clearly cannot continue. I look at the FICA payments we make (both me as an individual and as a partner in our firm) and am disgusted with the knowledge that most of our folks will either never see the money or will see greatly reduced benefits. If this was a commercial enterprise (see, Enron and WorldCom), people would be on their way to jail for this type of mismanagement. But because it’s a “government trust” (an oxymoron if ever I heard one) we let it ride.
On the bright side, maybe this is the start of a new period of examination for these benefits. Wouldn’t that be great.
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