To the extent that lower salaries have been traded for richer pensions, the public has been ripped off.
That $50,000 per year contributed to the pension fund for each police officer will eventually cost the city $80,000 more because they are not putting enough in. But in terms of attracting police officers, and making them grateful to the people they serve, how much is that pension worth? $10,000? $5,000? I'd say that the city is paying $80,000 for something valued by their employees at $5,000.
I don't hear any public employees saying they have a great deal because in the not to distant future they will be paid well for nothing. I hear resentment that they are paid less to work now. So they work less to offset it. And the city can only attract those who, from their first day on the job, look forward to not working. The Holy Trinity of public service are overtime (the only time worth working), sick leave (when not sick) and retirement, preferably early.
And both the unions and the politicians seem to like it this way. The unions grab richer pensions via the state legislature, and the city pays for it by cutting the pay of new hires. And in the end, as written, those new hires aren't going to get the rich pensions obtained by those who went before and sold them out. Guaranteed.
To the extent that lower salaries have been traded for richer pensions, the public has been ripped off.
That $50,000 per year contributed to the pension fund for each police officer will eventually cost the city $80,000 more because they are not putting enough in. But in terms of attracting police officers, and making them grateful to the people they serve, how much is that pension worth? $10,000? $5,000? I'd say that the city is paying $80,000 for something valued by their employees at $5,000.
I don't hear any public employees saying they have a great deal because in the not to distant future they will be paid well for nothing. I hear resentment that they are paid less to work now. So they work less to offset it. And the city can only attract those who, from their first day on the job, look forward to not working. The Holy Trinity of public service are overtime (the only time worth working), sick leave (when not sick) and retirement, preferably early.
And both the unions and the politicians seem to like it this way. The unions grab richer pensions via the state legislature, and the city pays for it by cutting the pay of new hires. And in the end, as written, those new hires aren't going to get the rich pensions obtained by those who went before and sold them out. Guaranteed.