Six-figure pensions for hundreds of retired San Jose cops, firefighters

[MMiz]

Six-figure pensions for hundreds of retired San Jose cops, firefighters

Veteran San Jose Fire Capt. Randy Sekany hung up his helmet in December at the age of 53. But he didn't leave behind his $100,000-a-year-plus salary. Instead, he joined the ranks of hundreds of former city workers making six-figure sums, with a pension that will pay him $121,510 this year.

He is one of 44 firefighters and police officers who left the city last year alone with six-figure pensions, thanks to a controversial retirement system that is receiving renewed scrutiny.

Read more!

 

[CAOX3]

100% pension, sounds pretty good to me. The real question is how many working police officers will have to be laid off to afford this?

Also your link is broken.

 

[VentMedic]

The university systems also offer retirements and full healthcare if you get the time in.

For San Jose, $120,000 is barely a living wage. New grad RNs can start out at close to that in the Bay Area.

 

[VentMedic]

Just an example of wages in the Bay area:

UCSF

Nurses
http://ucsfhr.ucsf.edu/index.php/staffing/tpp_detail?titletext=nurse&tier1=1&tier2=2&Perb=&subFOC=

RRT
http://ucsfhr.ucsf.edu/index.php/st...ratory+therapist&tier1=1&tier2=2&Perb=&subFOC=

SFFD

Entry Level FF

$34.56-$48.39 Hourly / $5,991.00-$8,387.00 Monthly / $71,890.00-$100,646.00 Yearly​

http://www.jobaps.com/SF/specs/classspecdisplay.asp?ClassNumber=00H2​

SFPD
http://www.sfgov.org/site/police_index.asp?id=27855
[FONT=Arial, Helvetica]The current annual entry-level salary for Police Officers is:[/FONT]​

<B>

[FONT=Arial, Helvetica]$75,868 to $101,556​

​

</B>

All of these jobs come with excellent benefits, pensions and medical care with retirement. ​

[/FONT]

 

[MMiz]

The university systems also offer retirements and full healthcare if you get the time in.

For San Jose, $120,000 is barely a living wage. New grad RNs can start out at close to that in the Bay Area.

$120,000 barely a living wage? Come on.

Estimated median household income in 2007: $76,963
If you "converted" the $120,000 to adjust for the cost of living, you're still making $80,000 in most areas.

That's a lot of retirement money. The issue for me isn't the salary, the issue is that they're paying that much for retirement.

 

[VentMedic]

Remeber the guy profiled was also a captain.

You do realize houses in San Jose start at $400,000 and that is with the real estate industry tanked. Most homes cost about $500 - 600,000.
http://www.zillow.com/local-info/CA-San-Jose-home-value/r_33839/

The average income is $98,277. Most families must have two incomes and need over $100k to make ends meet.
http://www.sanjoseca.gov/planning/factsheet/income.asp

I have a reasonable mortgage on my house in the Bay area and would not consider living there if I did not make at least $100k (based on a 36 hour work week). With the taxes in CA, that is running on a tight budget.

 

[timmy84]

EEEK! In NW Indiana where I live you can expect to pay 400 grand for a mansion. My mortgage payment for a 1000 sq ft ranch is 600 bucks a month with taxes included in the payment. All while I am pulling in a whopping 14/hr as a CNA. Of course I will be making 9/hr as a Basic until I can get through P school and hopefully find employment with a municipality to make a decent wage. I will likely have to keep my job wiping rear ends to make the bills till I can find something to match it. eek!

 

[MMiz]

Remeber the guy profiled was also a captain.

You do realize houses in San Jose start at $400,000 and that is with the real estate industry tanked. Most homes cost about $500 - 600,000.
http://www.zillow.com/local-info/CA-San-Jose-home-value/r_33839/

The average income is $98,277. Most families must have two incomes and need over $100k to make ends meet.
http://www.sanjoseca.gov/planning/factsheet/income.asp

I have a reasonable mortgage on my house in the Bay area and would not consider living there if I did not make at least $100k (based on a 36 hour work week). With the taxes in CA, that is running on a tight budget.

I understand, my issue isn't money. My issue is why the guy is making 90%+ for a pension. On top of that, he gets raises every year. That's crazy.

 

[VentMedic]

I understand, my issue isn't money. My issue is why the guy is making 90%+ for a pension. On top of that, he gets raises every year. That's crazy.

But did you see the salaries that the RNs and RRTs will get if they retire with the UCSF system? If they get the years, few will have less then $100-$150K with full medical. Even 60% of $150k is not bad if they retire to someplace cheaper to live.