Mon
Feb 12 2007
06:26 am
According to a News-Sentinel article the county Pension Board will not release the amount Mark Cawood receives in pension from 20 years as County Commissioner. Because 'it's a privately controlled fund.'
|
|
Discussing:
- Are our deployed military going hungry? (1 reply)
- Tennessee passes bill to restrict college students' protests (1 reply)
- Inflation up, gas up, food up, consumer sentiment lowest ever (1 reply)
- Some AI uses are "outside the bounds of safe/reliable technology" (2 replies)
- A Letter to the U.S. Congress (1 reply)
- President: we can't take care of daycare, Medicare, Medicaid (1 reply)
- U.S. House Democratic Leadership says to Stop the Madness (1 reply)
- Am I missing something? (1 reply)
- Lady Vols Basketball down to one player? (1 reply)
- Kerbela Shriners Site Development Proposal Meetings Announced (6 replies)
- Is Blount Memorial Hospital in trouble again? (5 replies)
- Gas prices on the rise (3 replies)
TN Progressive
- Siemens expending in Blount County, But... (BlountViews)
- Maryville Arts Walk - 3rd Thursday - today thru Oct. 15 (BlountViews)
- Candidate for U.S. Rep., against Burchett campaigns Saturday, 4/18/2026, Blount County (BlountViews)
- PRISMA/Blount Memorial Hospital laying off 85 employees (BlountViews)
- WATCH THIS SPACE. (Left Wing Cracker)
- America As It Is Right Now (RoaneViews)
- A friend sent this: From Captain McElwee's Tall Tales of Roane County (RoaneViews)
- The Meidas Touch (RoaneViews)
- Massive Security Breach Analysis (RoaneViews)
- (Whitescreek Journal)
- My choices in the August election (Left Wing Cracker)
- July 4, 2024 - aka The Twilight Zone (Joe Powell)
TN Politics
- Lori Chavez-DeRemer out as secretary of the US Department of Labor (TN Lookout)
- State oversight board would control Memphis Shelby schools budget, contracts (TN Lookout)
- US House Dems at ag hearing excoriate Trump cuts proposed for farm and food aid (TN Lookout)
- Tennessee House to vote on bill requiring public agencies to report immigrants without legal status (TN Lookout)
- Figures don’t lie, but liars do figures: Memphis and the cost of narrative without numbers (TN Lookout)
- Pushback leads Homeland Security to compromise on some warehouse detention centers for immigrants (TN Lookout)
Knox TN Today
- Teach Children to Save Day is Thursday (& everyday) (Knox TN Today)
- The Cruzes: They had cows (Knox TN Today)
- Fire on the mountain (Knox TN Today)
- Cumberland Ave then and now + Holston Hills garden sale ++ (Knox TN Today)
- Above & Beyond: Knox Area Urban League (Knox TN Today)
- Fountain City Ramblers to perform free event on FCPC lawn (Knox TN Today)
- Easy ways to stay active without a gym (Knox TN Today)
- 4/21 HEADLINES: News and events from the World, the USA, Tennessee, Knox & Historic Notes (Knox TN Today)
- Maryville College Concert Choir seeks ‘Companions’ for its May 2027 tour of Scotland (Knox TN Today)
- Barnes wanted better players and may be getting ’em (Knox TN Today)
- KCR’s Noah Sloan: A Navy vet dives for families & community (Knox TN Today)
- Rocky Top Veterans reaching eight TN counties (Knox TN Today)
Local TV News
- Knox County investigators seize large drug stash, $20,000 (WATE)
- East TN lawmakers debate bill requiring sheriff's offices to partner with ICE (WATE)
- $34 million in relief funding to support Tennessee farmers impacted by Helene (WATE)
- Louisville to discuss concept plan for new town center development (WATE)
- Knoxville mother searching for care for son with cerebral palsy after agency ends service (WATE)
- Blount County school employee on leave after altercation with student at track (WATE)
News Sentinel
State News
- Five Chattanooga area swimming spots to enjoy while Blue Hole is closed - Chattanooga Times Free Press (Times Free Press)
- Hamilton County school board denies charter application - Chattanooga Times Free Press (Times Free Press)
- How Black Creek neighborhood, new Lookouts stadium are connected - Chattanooga Times Free Press (Times Free Press)
- Some investors confused about what Novonix is, CEO says - Chattanooga Times Free Press (Times Free Press)
Wire Reports
- Tim Cook Will Step Down as Apple C.E.O. - The New York Times (Business)
- Oil falls on expectations US-Iran talks likely to proceed, opening supply By Reuters - Investing.com (Business)
- Labor Secretary Lori Chavez-DeRemer is leaving Trump's Cabinet after abuse of power allegations - AP News (US News)
- Relatives of mass shooting victims in Louisiana pray for end to domestic violence - The Washington Post (US News)
- George Ariyoshi, first US governor of Asian American descent, dies at 100 - Politico (US News)
- Trump’s Federal Reserve nominee is set to face a tough hearing before Senate panel - AP News (Business)
- From Attila the Hun to Donald J. Trump: A brief history of popes battling world leaders - politico.eu (US News)
- Iran talks on shaky footing after U.S. seizure of ship in Strait of Hormuz - The Washington Post (US News)
- Anthropic bites back in the compute wars with Amazon partnership - Axios (Business)
- A deal to end the Iran war seemed close. Then Trump started posting on social media - CNN (US News)
- What a US destroyer shooting a cargo ship's engine out reveals about how the Navy is handling Iran blockade runners - Business Insider (US News)
- Stock Market News April 20, 2026: Nasdaq snaps 13-day winning streak, Dow and S&P 500 end modestly lower as latest Iran cease-fire deadline looms - MarketWatch (Business)
- $166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage - Fortune (US News)
- Uber loses another US driver sex assault trial, ordered to pay $5,000 - Reuters (Business)
- Blue Origin Botched a Satellite Launch, but AST SpaceMobile Stock Is Paying the Price - Barron's (Business)
Local Media
Lost Medicaid Funding
To date, the failure to expand Medicaid/TennCare has cost the State of Tennessee ? in lost federal funding. (Source)
Search and Archives
TN Progressive
Nearby:
- Blount Dems
- Herston TN Family Law
- Inside of Knoxville
- Instapundit
- Jack Lail
- Jim Stovall
- Knox Dems
- MoxCarm Blue Streak
- Outdoor Knoxville
- Pittman Properties
- Reality Me
- Stop Alcoa Parkway
Beyond:
- Nashville Scene
- Nashville Post
- Smart City Memphis
- TN Dems
- TN Journal
- TN Lookout
- Bob Stepno
- Facing South

Defined contributions
What you aren't understanding is that the pension Cawood and most other county employees have is not a defined benefits pension. The County pensions are more like IRAs. The employee contributes a certain amount of his paycheck to the fund, the county matches that amount up to a certain point, and the money is invested in a variety of mutual funds at the discretion of the employee.
Since an employee may be conservative or aggressive with his or her investment strategy, there's no way to say "what amount the emplyee will receive in pension" because it continues to accrue interest and growth as long as it's in the program. Another County Commissioner with the same term of service as Cawood might have a completely different sum in his pension based on how he invested it during his career. And unlike a defined benefits pension, where you can say by rule that an employee withn X years of service will draw X dollars per year, a person in a defined contributions plan that is eligible for a distribution can leave it there till he dies if he has other means, take out an amount of his choosing per month, or remove the whole shebang the day he is eligible to do so.
The new Sheriff's department pension that was approved by the voters last year IS a defined benefits pension, so it is possible to look at the rules of the pension and say that officer X with 20 years service will be eligible to receive $X0,000 per year.
So really, your criticism is unfair. All the pension board could tell you is what Cawood has in his account, and frankly IMO that's really none of your business. I would say this - since the contribution is based on employee pay (I think the max matched contribution allowed under the plan is 6%), 20 years of a Commission salary will not result in a very big nest egg for Mr. Cawood unless he has been extraordinarily fortunate in his investments.
The way I interpret
The way I interpret 'pension' is a 'defined benefit' which your employer is responsible for funding. In that case I think we should know what we are responsible for funding. I think the NS article might have clarified that more.
Maybe it was not accurate, regarding that sentence.
Since to me what he is getting is not a 'defined benefit' then I agree, other than knowing what percentage we have to provide, I dont really care what they are making on their IRA. I hope they make the most they legally can.
What
you are missing in this issue in your words "his money" is really OUR money. He never really had the money. It was the taxpayers money for him to do a job.
If he invested our money agressively and made more with our money o.k. if he didn't and lost our money o.k. But it is a need to know item.
The Cawood's have held a gun to the heads of every Knox County taxpayer and have committed armed robbery.
oh brother
That logic couldn't be more tortured if it were chained up in Rumsfeld's basement.
No it isn't.
Sorry, but you're just wrong here. Sure, what a politician does with public funds is everyone's business - how they spend money on parks, education, roads, war - all are of public concern. But what they get paid is THEIR money once it is paid, and is no longer a matter for public inquiry. You may know that the County will pay up to 6% of a Commissioner's salary into a pension plan (assuming the commissioners elects to have the full 6% witheld), and so based on the Commissioner's salary you can calculate how much public money is going to the Commissioner, but after that the money belongs to HIM or HER and its really none of your business how much they have accumulated or how they have invested it, any more than it's your business how much they spend on groceries with their paycheck each month.
Unless of course on that theory you want to say that the bank accounts of anyone who gets public assistance, Social Security, government-backed student loans and the like become public records as well?
Defined benefit plans obsolete in private industry
I'll have to chime in on the side of Ringo et al on this one. Given the type of pension plan Cawood has, he's essentially investing his own money at his own risk.
I'm convinced that if voters had better understood the difference between a defined contribution plan (the wave of the future) and a defined benefit plan (a virtually obsolete perk in private industry), they never would have approved this problematic new Sheriff Department pension!
The problem I see with Defined contributions is...
it is the same flim-flam scam that George Bush wanted to pull with Social Security. And it is STILL a bad idea.
"You can't fix stupid..." ~ Ron White"
"I never said I wasn't a brat..." ~ Talidapali