do not be fooled by C & D "reform"

dcsf2011's picture

The time for pension reform is now but the proposals being put forward (C&D) are not the way.  Pension reform must go hand in hand with SALARY reform!!!
Facts about C&D
·         Big lie from City Hall: the City’s 27,000 employees average $93,000 in salaries, driving up pensions
·         True:Of the 36,644 City employees in calendar year 2010, 18,972 (52%) earned less than $70,000, Their average total salaries were just $35,091
·         11,838 employees (32.3%) earn over $90,000, Their average total salaries were $123,874!
·         In 2003, there were   2,918 City employees earning over $90,000 in total pay, costing $314 million.
·         In 2010, there were 11,838 employees earning over $90,000, a staggering 305.7 percent change since calendar year 2003!
·         San Francisco’s employee retirement system is relatively healthy. It earned a 12.55% investment return last year —$1.65 billion — not the 7.75% annual return Jeff Adachi’s and Mayor Ed Lee’s flawed proposals are based on.
·         Service pensions average $79,347 for firemen; $70,932 for police officers; and $27,623 for “miscellaneous” employees (inflated by $100,000+ salaries of “some miscellaneous” staff).
·         Employees earning $60,000 with 13 year’s service at age 62 earn small $18,213 pensions. Highly-paid managers and safety employees earning over $100,000 continue collecting six-figure pensions.
·         Prop. Ccap “safety” pensions at $183,750 and cap “miscellaneous” pensions at $208,230.
·         Prop. Dcap pensions at $140,000. Both ballot measures failed capping pensions at $80,000.
·         Prop. Cdiscriminates against lower-paid City employees, requiring a flat 10% pension contribution for those earning $50,000 to $100,000.
·         Prop Duses a sliding scale, but employees earning below $70,000 may pay up to 13% while those earning $100,000 to $200,000 pay only15.5%.
·         Current employees may face paying 16% to 20% of their wages, plus unknown health care cost increases, if either “C” or “D” passes. Fixed-income retirees will also see their health care costs soar, and will lose the supplemental COLA.

Paid for by Phil Ting for Assembly 2012. FPPC ID# 1343137