Newly elected Calgary councillor turns down pension, transition allowance
Jeromy Farkas says he won't take part in retirement package that would be too generous for someone his age
A newly elected city councillor says he will not enroll in the council pension plan, nor will he accept a transition payment whenever he leaves office.
"I'm a little bit different in that I'm the youngest councillor elected in a generation," said Jeromy Farkas, 31.
"I don't have a family to support. I have quite a bit more prime earning years ahead of me, if that makes sense."
Farkas, who represents Ward 11, said the move isn't meant to cast aspersions on his colleagues but is unique to his situation.
"My intent is not to needle any of the other councillors," he said. "It's just to highlight how these pension funds are problematic in situations like mine."
Farkas estimates that if he were to serve two terms as councillor, refusing the pension could save taxpayers half a million dollars over the course of his lifetime.