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.