These aren't severance bonuses; these are annual pension payments. Grist for the mill in the current debate re union salaries and benefits, from
SF Weekly. The discussion at the link focuses on Police Chief Heather Fong:
According to the San Francisco Employee Retirement System (SFERS), Fong actually earns two city pensions: One of $566 per month for her (brief) time as a miscellaneous-class employee and a second of $22,572 per month for her 30-plus years as a safety worker. Doing the simple math that's $23,138 per month or $277,656 per year.
This is happening in virtually every city in every state in the U.S. hundreds of millions paid for people that aren't working every year.
ReplyDeleteNo surprise everyone is going broke.
What rot! In NJ, the average public pension is around 30K for someone who worked 30 years.
ReplyDelete30k is not some extravagance.
Are you saying the SF data is untrue? Or are you just jealous?
ReplyDeleteIt looks like something similar I saw in the S.F. Chronicle a while back. The issue wasn't public service pensions in general but that of top tier police administrators.
ReplyDeleteYes, that is the top tier and not representative of average state public union workers. They generally work for fairly low pay in exchange for good benefits, decent retirement. Disgraceful all the same that some in charge game the system.
ReplyDeleteNotice that none of those listed was a teacher, and that the political pundits are not complaining about the salaries and benefits of desk-jockey police officers...
ReplyDeleteThe top tier pensions aren't the ones everyone else is getting but they are a huge and unrealistic burden.
ReplyDeleteif 2400 people were getting but $75,000 a year that's $180,000,000.00 for people no longer providing a service.
The top 490 are actually pulling in more then $60,000,000.00 (pushing the figure over $200,000,000.00 for 2400 people.
That's a heck of a lot of jobs that aren't being financed. Classes unpaid for and police shifts unfilled.
to give some context for those who may be less familiar with the area, as a former SF resident, i'd mention that San Francisco is one of the most expensive cities in the US to live in...
ReplyDeletethe median home price is well above $500k. maximum unemployment benefit is $450/week. 10 years ago, Muni (bus drivers) were rumoured to be earning $45k/pa.
just sayin.