However after retirement, he will be very well paid as well. Here is how his retirement will be calculated: His current salary is reported at $212K (public information) x 90% equals (also public info. he will earn 3 percent for each of the 30 years he has worked) equals $190K per year x 30 years (life expectancy estimate) equals $5.7 million dollars. The Police Chief is retiring on the heels of the City's Fire Chief also retiring at similar salary and benefit.
The the Core benefits program has not required Fraser to contribute toward his own pension.
The topic of public employees retirement system will bankrupt Pleasanton, most of our regional cities and the state if it is not addressed right away.
I do not have confidence that the existing City Council or Jerry Brown will address this problem.
This IS news and should be discussed clearly in the PW, not just the Times and Herald.
This story contains 213 words.
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