Inspector General Quatrevaux said the staff report is flawed because it looks only at starting salaries, ignoring the cost of pension funding.It's "beyond belief." So what's the reason for it?
Retirement contributions, which are set by the state and paid by the city, currently stand at 31 percent of an officer’s salary. That’s money the city must come up with in addition to officers’ pay.
“How can you make an intelligent assessment if you’re ignoring 31 percent of the cost?” Quatrevaux said. “If they fail to look into retirement contributions, they’re very likely going to get the wrong answer.”
“I will certainly oppose any pay raise based on this analysis,” Quatrevaux added. “It’s such surface treatment of an important subject, it’s beyond belief.”
In 2014, the city budgeted $21.8 million for the state’s police pension fund. That means the recommended raise would cost the city another $3.3 million annually by the third year.
Thursday, September 25, 2014
Maybe there's a reason for that
When costing out a 20 percent raise for police officers, city Civil Service staff conveniently neglected to factor in pension contributions.