This is a very sad story and New Brunswickers can't do a single thing about it!!
The date was April 29th!!!
Officials held a news conference ordering people living in the flood area to leave their homes.
The media and New Brunswickers were focusing on the Flood.
Mike Murphy and all the MLA'S in the Legislature stayed in the Chambers to pass a hick of 6 Millions bucks for their pension!!!
I guess they pass first, second and third reading ALL IN ONE DAY!!!!!
I might add the power went haywire at the Legislature so the video cameras didn't work.
You darn right!!!
This blogger will be asking a few questions about this issue to the MLA'S!!!
Do you think the Opposition will question the Liberals on this issue?
Of course not!!
SIX MILLION DOLLARS IS A LOT OF MONEY!!!
Watch Part two tonight on CBC!!!!
Here's part one of CBC story from last night!!!
N.B. MLAs primed their pension plan by $6 million, CBC review finds Last Updated: Friday, December 19, 2008 | 9:05 AM AT CBC News
New Brunswick MLAs will accumulate about $6 million in retroactive pension benefit increases over the next three years thanks to a pay change they voted themselves last spring, a CBC review of that decision reveals.
In addition, the province has had to increase its contribution to the MLAs' pension plan by about $14,000 per MLA per year to keep up with increased benefits MLAs adopted for themselves.
'It is the richest I have ever seen.'— Marilyn Williams, UNB finance instructor
Marilyn Williams, a retirement planner and a University of New Brunswick finance instructor, reviewed the pay and pension changes for CBC News.
"It is the richest I have ever seen," she said.
In April, New Brunswick politicians voted to increase their base salary to $85,000 from $45,347. In exchange, the MLAs terminated two tax-free allowances that previously were used to supplement their incomes.
The effect of the changes was originally explained to be minor, almost revenue neutral for politicians. But instead it is generating huge increases in MLA pension benefits.
That's because MLAs pensions are based on their salary and the increase in the total wage package flowed directly through to their retirement accounts. Those accounts are now growing rapidly.
For example, the pay change is helping Premier Shawn Graham's retirement account grow by approximately 160 per cent over a three-year period ending on March 31, 2011.
Most of that growth comes from retroactive increases to benefits the premier earned years ago.
Opposition Leader David Alward has been criticizing the Liberal government for more than a week on the retroactive pay increase and bonus delivered to David Hay, the president and chief executive officer of NB Power.