Retirement Package Drives Cost of Police, FirefightersPaul Hogarthbyline‚ Jun. 29‚ 2009How would you like to make $100,000 a year, get generous annual raises and retire at 55 – with a pension that pays up to 90% of your final salary? San Francisco firefighters and cops get this, while other City workers (who generally make less) only receive up to 75% in retirement pensions. Voters passed a Charter Amendment in 2002 that created this package for police and firefighters – and now it’s costing us dearly. Gavin Newsom’s budget this year gives the Police another $16 million, but $12 million alone goes to pay for increased retirement costs (with 25% of the force eligible to retire.) We were told in 2002 that Proposition H would not cost the City a dime, because (a) the Retirement Fund had a surplus and (b) cops and firefighters would re-negotiate their contributions in hard times. The Mayor’s union contracts with the Firefighters and Police Officers Association did include employee contributions, but it clearly wasn’t enough. Only voters can amend retirement plans, but we can make decisions now that would stem future liabilities. Why do we have cops in civilian jobs, or extra middle managers at the Fire Department? If the City can’t even afford them now, what is going to happen when they retire? |