Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Ethical Fiscal Matters in Public Organizations
Pension padding depicts a practice whereby organizations engage in the manipulation of salary and overtime payments to acquire inflated pensions (Walsh & Schoenfeld, 2010). The practice contravenes ethical standards enshrined in our constitution and ethics in the workplace. Pension padding also referred to as pension spiking occurs at the expense of taxpayers who have to pay for the inflated pensions. In this paper, we analyze pension padding in the Yonkers Police Department within the state of New York.
In 2010, for example, more than 100 retired firefighters and police officers collected pension payouts, amounts that exceeded their pay when they were still in service. Before retiring, some of the police officers and firefighters engaged in the pension padding practice enabling them to earn a better pension scheme than their salary. In one case, an employee who retired aged 44 and previously earning $74,000 yearly eventually ended up receiving $101,333 a year in the pension payout (Walsh & Schoenfeld, 2010). Such cases explained the fiscal woes facing the state of New York as the Yonkers Police Department depicted cases of pension padding.
Pension padding violates the code of ethics geared towards advancing the public interest,...
The case by Yonkers Police Department is a clear violation of the ethical guidelines enshrined in the nation's Constitution that governs laws of the land.
An investigation into the case by the New York Attorney General sought to conduct an audit on the pension payouts of the police officers in Yonkers Police Department. The audit identified that some police officers engaged in the malpractice, breaking overtime rules, moves geared towards increasing pension payouts (New York State Office of the Attorney General, 2010). Currently, the reforms instituted to address this issue have focused on limiting employee benefits. To date, the Office of the Attorney General has conducted arrests leading to criminal charges on some managers who plead guilty to charges associated with fraud charges in the pension schemes. The Public Pension Fund Reform Code of Conduct in place endeavors to address the challenge of pension paddling, a factor that strains the budget of the state of New York (New York State Office of the Attorney General, 2010). Despite the challenges in realizing the change, bringing up this issue to the public domain has created awareness of…
References
American Society for Public Administration. (2012). The Proposed Code of Ethics. Retrieved from http://www.aspanet.org/public/ASPADocs/Principles%2012-09-10.pdf
New York State Office of the Attorney General. (2010). Attorney General Cuomo Expands Investigation Into "Pension Padding." Retrieved from http://www.ag.ny.gov/pressrelease/attorney-general-cuomo-expands-investigation-pension-padding
Romero, S. (2015, Nov 16).TIAA-CREF, U.S. Investment Giant, Accused of Land Grabs in Brazil. The New York Times. Retrieved from http://www.nytimes.com/2015/11/17/world/americas/tiaa-cref-us-investment-giant-accused-of-land-grabs-in-brazil.html
Walsh, M. & Schoenfeld, A. (2010, May 20). Padded Pensions Add to New York Fiscal Woes. The New York Times. Retrieved from http://www.nytimes.com/2010/05/21/business/economy/21pension.html?
Ethics in an Organization Ethics are the values and principles that a person utilizes in order to rule his actions and choices. In an association, a code of ethics is a set of moralities that direct the organization in its programs, rules and choices for the corporate. The ethical attitude an association uses to conduct commerce can affect the standing, efficiency and also what is considered to be the bottom line
3). In addition, the Company strongly believes in fair dealing and has it made a central part in the Code. Each employee, officer and director should endeavor to deal fairly with the Company's customers, suppliers, competitors, officers and employees. None should take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair dealing practice. Stealing proprietary information, misusing trade secret
ANA Nursing Code of Ethics ANA Code of Ethics Applied to Current Practice Philosophy The objective of this study is to discuss provisions one through nine of the ANA Code of Ethics and apply it to the current practice philosophy. A well this work will discuss provisions seven through nine of the ANA Code of Ethics and apply it to the current practice philosophy and answer how the two relate. The differences
Business Ethics Company Overview Ethics and Code of Conduct Guiding Principles Our Ideology; Our Objectives; Our Core Values that shape us; As a part of my Business Ethics lesson I have a task to criticize and improve my company's code of ethics, before doing that I want to briefly explain about my company; MLS Holding and what we do? The most effective statements in regard to business ethics are rooted in the strategic vision of an organization
Social & Ethical Issues in Management Brief Background/History of Corporation Epitech is a technology company that creates and develops software for administrative use for other corporations. The company was founded in the year 2009 and has since then grown to become one of the renowned software technology companies in the region. The headquarters of the company is situated in the state of Virginia. The company is best known for its Omega software
Allabouttruth.org/moral-ethics.htm).In addition, almost 50% of the surveyed adults said they base their moral decisions on whatever will bring them the most pleasing or satisfying results (Moral Ethics, at (http://www.allabouttruth.org/moral-ethics.htm).Research in this area indicates that moral ethics are now considered relative to culture, relative to circumstance, and relative to the specific needs of the individual (Moral Ethics, at (http://www.allabouttruth.org/moral-ethics.htm). From the standpoint of the Department of Justice, moral ethics was a primary