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— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary.

 

Exhibit #$
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Care of the admirably dogged efforts of the reporter assigned by the South Shore broadsheet to cover Quincy, Quincy locals now know that convicted federal felon Tom “Steak Tips” Clasby has formally seen his city employee pension benefits revoked by the city’s pension board.

The board’s vote was unanimous and were cast during a closed door meeting on June 25th.

While it is only fair to note that there probably is a basis to have held the termination of Tips’ pension benefits vote behind closed doors, an eleven day delay for the public to then know about the vote can only heighten local suspicions about a scandal that has rocked the already rocky Koch Maladministration.

Behind closed doors …
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For example, over the lack of answers over questionable behaviors by those not facing time served, much less the potential loss of their own city pension benefits. 

In any event, while Steak Tips will be losing his pension benefits, he will be reimbursed for paycheck deduction copays of a sort to help fund his pension benefits, albeit without any accrued interest or other return on interest on his paycheck deductions.

While the impact of inflation greatly reduces the duly adjusted former purchasing power of Clasby’s paycheck deductions, he is expected to receive a low six figure reimbursement.

Chapter 1: Do NOT drop the soap in the showers!
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On the other hand, as a part of his sentencing, Steak Tips promised to see his paycheck deduction reimbursements applied to cover his $136,000 year restitution order.

Further note that Steak Tips likely was burned for roughly a million dollars in net present value pension benefits had he not been busted for his crimes and so would have been able to work for several more years and so collect the maximum pension payout possible for 32 years of time dining at the local public trough.

Net/net, while Tips is looking at short time in prison, an over a million dollar financial hit is a million dollar hit.

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