Fairfax County raised the retirement age to 55 for new hires effective 2013. Since over 80% of taxes go to benefits and pay you can argue the recent tax increases are all going to worker compensation. The value of a defined benefit pension has soared as interest rates have fallen. As of this writing real interest rates are negative with the 10 year bond paying below the rate of inflation. For most of the country's history the money market or 90 day rate was inflation plus one percent. Now it stands at negative 2%.
Your taxes pay for many positions not known in other counties or in previous times.
A bicycle coordinator at $100,000
An ecologist- new for 2013 !
A VP for every each grade and cluster executives, all costing well over $100,000 each.
Taxpayer subsidized luxury apartments for folks making over $80,000.
Aside from eliminating these extravagant positions the county needs to raise the retirement age to 62 for all existing workers. Otherwise your taxes are going up next year and every year thereafter. Our polling data shows 79.57% support the change in retirement age-do you?