Guess what -- another disappointing win for a public employee union and loss for taxpayers -- here in Orange County. The Orange County Fire Authority has approved a new contract with its firefighters. Early on in this article is says that firefighters are now paying 100% of their retirement. Of course, that isnt even close to true. They are now technically paying their required share of their retirement -- still a fraction of the total cost. That would be a step in the right direction EXCEPT... Read the fine print, Employees will receive pay increases of 2.75 percent, 2.5 percent and 3 percent over the three years of the agreement. Yes, the OCFA Board of Directors, mostly Republicans, actually gave RAISES to the firefighters to COVER their increased contributions to THEIR OWN retirement. A great deal for the firefighters since these raises actually bump up their compensation on which their generous retirement is based. In case you werent aware -- a firefighter at OCTA retires with 3% of their highest salary times the number of years they worked (with all kinds of little kickers worked into the fine print of their contract). In order for someone in the private sector to retire with a similar benefit you would have to have millions of dollars saved up in the bank. The point of having these folks pay more towards their retirement is because they are getting such a lavish benefit. By giving these raises it really means that instead of the firefighter shifting some of their total compensation from their take-home pay to their retirement, they in fact just get an increase in total compensation. And who pays the higher bill -- yup, we do. Let me close be being clear -- I appreciate firefighters and what they do. Truly. But that doesnt mean I think they should be receiving the extremely high total compensation for their jobs that they receive. [Note: If you dont think these retirement benefits are exorbitant than you probably wont agree with my comments.]
Posted on: Sat, 24 Jan 2015 06:22:31 +0000