A fight over dueling pension measures boils down to savings, which remain a moving target.
A new analysis released Tuesday by the City Controller’s Office shows Mayor Ed Lee’s pension measure could save The City about $50 million in fiscal year 2012-13 and between $90 million and $150 million annually through fiscal year 2021-22.
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Mayor Ed Lee’s “consensus” pension measure was sent out of the Board of Supervisors Committee on Tuesday morning, despite concerns from a number of retired city workers whose main objection was over the change in the governing rules of The City’s Health Service System.
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A “double dipping” pilot program intended to stem the tide of retiring police officers without costing The City more appears headed for elimination.
Despite warnings from the Police Officers Association of a “looming Armageddon,” members of the Board of Supervisors are poised to vote Tuesday not to continue the Deferred Retirement Option Program.
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Mayor Ed Lee will unveil today his plan to rein in The City’s skyrocketing pension costs, which are projected to double to $800 million by 2014.
According to a draft of the proposal, the mayor’s plan calls for increasing retirement ages for new hires by three years, having police officers and firefighters contribute up to 6 percent more of their paychecks toward their pensions, and requiring all elected officials to pay into their retirement.
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City leaders and labor unions remain in talks Friday in hopes of striking an agreement over a pension measure for the November ballot.Talks began Thursday morning at 10 a.m. And all day, there was a lot of caucusing going on. Despite the lengthy talks, no agreement has been reached.“Talks are continuing today. No agreement has been reached, but a lot of progress has been made,” the Mayor’s Office said.
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With or without an agreement from labor unions, Mayor Ed Lee will introduce a proposal Tuesday for the November ballot that would rein in San Francisco’s skyrocketing pension costs, City Hall sources said.
Lee has just six days to solidify an agreement with labor unions before the May 24 deadline to submit a charter amendment to the Board of Supervisors for placement on the Nov. 8 ballot. While both sides have for months insisted a deal is close, consensus has remained elusive.
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An attorney working part time for the Rent Board took home $78,153 in wages while also collecting a $3,994-per-month pension last fiscal year. Meanwhile, a lawyer in The City Attorney’s Office was paid $77,427 for up to 120 days of work while receiving a $96,588 pension. A part-time nurse earned $67,068 while collecting a $72,540 pension.
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As cities such as Half Moon Bay and San Carlos outsource police services to the San Mateo County Sheriff’s Office, the change could give some officers an overnight income boost.
The day before San Carlos handed its law enforcement to the sheriff to save $2 million per year, Chief Greg Rothaus retired and started drawing a $131,976 a year pension, according to CalPERS, the state retirement system that serves 1.6 million public employees.
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A pension “double-dipping” program approved by voters on the premise that it would cost them nothing actually comes with a price tag of about $52 million, according to the first report to analyze its costs.
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A battle is looming over a voter-approved program that allows police officers to engage in a form of “double dipping.”The Deferred Retirement Option Program, commonly known as DROP, gives veteran officers the chance to continue to work with their full salary past retirement age while also collecting their pensions. The pension payments are placed in a fund that becomes available to them after two or three years depending on rank.
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