"Craig Bowen, retired chief of the San Ramon Valley Fire District, has retained the number 1 spot since the list’s inception. In fact, firefighters make up 40% of the “Club”(268 out of 645) with Contra Costa Consolidated Fire Protection District (ConFire) firefighters filling 180 of the Club membership slots."
"Ms. Hunt stated “ConFire recently announced it needs a parcel tax and the growing pension cost is clearly one of the factors involved.” David Twa, Contra Costa County Administrator, speaking at last month’s CoCoTAX meeting revealed that ConFire’s benefits cost 103% of salary. By way of comparison, private sector benefit costs average in the 33-35% range."
We are hearing these stories way too often. While CalPERS may have slightly better controls on pension spiking the CalPERS pension system is still a complete mess, with their Board of Directors dominated by union members (one of Gov. Jerry Brown's stalled reform measures is to make the board more tax payer friendly by replacing some of the public employee union members with actual financial experts - how did he think of that?).
Vallejo's unfunded pension liability is about 250 million, and the pension cost per dollar of payroll is fast approaching 50 cents on the dollar.