Big Pay Cut for San Jose Firefighters
Original post made by your turn Pleasanton, Another Pleasanton neighborhood, on Mar 4, 2011
It should be noted that the SJFD employees already pay about 14% per year into their city funded retirement, they are not in PERS. Yet the LPFD, who have never paid anything into their plan, think that their brand new 2% contribution is enough.
PCEA members feel that they should contribute nothing even though they had 41% raises over the term of the contract. It is time for the city to get serious about cutting these pension costs and getting a two tiered system in place. Retirement calculations need to be based on the final 3-5 years, not just 1. The calculation needs to be no more than 2% at 65, not 2.7% at 55.
Fialho and the council had better get a handle on these exploding costs and they could do well by following the lead of the SJFD and the San Jose mayor.