Monday, October 17, 2011
Tuesday, October 4, 2011
THIS Saturday October 8th, 10am walk, 3:00pm UNITY BBQ & ... on Twitpic
THIS Saturday October 8th, 10am walk, 3:00pm UNITY BBQ & ... on Twitpic
THIS Saturday October 8th, 10am walk, 3:00pm UNITY BBQ & Celebration! (program @ 3:30,) at Local 261. Join hundreds of workers, union members, and Friends of Labor as we blanket the City with our message about what is important to working families, and good for San Francisco.
THIS Saturday October 8th, 10am walk, 3:00pm UNITY BBQ & Celebration! (program @ 3:30,) at Local 261. Join hundreds of workers, union members, and Friends of Labor as we blanket the City with our message about what is important to working families, and good for San Francisco.
Saturday, October 1, 2011
Chronicle recommends Yes on C/No on D!
How the measures compare
Pension formula for police and firefighters{+1}
Current: 3% of final salary (average final two years) X years of service at age 55.{+1} (Pension for 30-year veteran who earned $100,000: $90,000 at age 55).
Prop. C: 3% of final salary (average final three years) X years of service at age 58. (Pension for 30-year veteran who earned $100,000: $90,000 at age 58).
Prop. D: 2.7% of final salary (average final five years) X years of service at age 57. (Pension for 30-year veteran who earned $100,000: $75,000{+2} at age 57).
Employee pension contribution, $100,000 salary{+3}
Current: 7.5% of salary
Prop. C: Between 2.5% and 12.5% of salary, depending on level of city contribution. As city's cost rises, so does employee's.
Prop. D: Between 7.5% and 15% of salary, depending on level of city contribution.
Employee contribution to retirement health care
Current: None for employees hired before 2009; newer hires contribute 2% of salary.
Prop. C: Pre-2009 employees must contribute 0.25% of salary starting in fiscal 2016, increasing by 0.25% of salary annually to a maximum 1%.
Prop. D: Does not change current system.
{+1}For other city employees, the formula is 2.3% of final salary X years of service at age 62. Both propositions would raise the retirement age for maximum pension to 65. Changes apply to new hires only; would not affect vested rights. {+2}Prop. D reduces the maximum possible pension for public safety workers (now 90%) to 75% for new hires (same as for other city employees). Prop. D also imposes overall pension cap of $140,000; Prop. C has no such ceiling. {+3}Example is for non-public safety employees.
This article appeared on page E - 10 of the San Francisco Chronicle
Pension formula for police and firefighters{+1}
Current: 3% of final salary (average final two years) X years of service at age 55.{+1} (Pension for 30-year veteran who earned $100,000: $90,000 at age 55).
Prop. C: 3% of final salary (average final three years) X years of service at age 58. (Pension for 30-year veteran who earned $100,000: $90,000 at age 58).
Prop. D: 2.7% of final salary (average final five years) X years of service at age 57. (Pension for 30-year veteran who earned $100,000: $75,000{+2} at age 57).
Employee pension contribution, $100,000 salary{+3}
Current: 7.5% of salary
Prop. C: Between 2.5% and 12.5% of salary, depending on level of city contribution. As city's cost rises, so does employee's.
Prop. D: Between 7.5% and 15% of salary, depending on level of city contribution.
Employee contribution to retirement health care
Current: None for employees hired before 2009; newer hires contribute 2% of salary.
Prop. C: Pre-2009 employees must contribute 0.25% of salary starting in fiscal 2016, increasing by 0.25% of salary annually to a maximum 1%.
Prop. D: Does not change current system.
{+1}For other city employees, the formula is 2.3% of final salary X years of service at age 62. Both propositions would raise the retirement age for maximum pension to 65. Changes apply to new hires only; would not affect vested rights. {+2}Prop. D reduces the maximum possible pension for public safety workers (now 90%) to 75% for new hires (same as for other city employees). Prop. D also imposes overall pension cap of $140,000; Prop. C has no such ceiling. {+3}Example is for non-public safety employees.
This article appeared on page E - 10 of the San Francisco Chronicle
Subscribe to:
Posts (Atom)
