Sacramento Deputy Pensions (salary, living, cost of living)

[NewToCA]

Interesting tidbit in this article:


The Sacramento County Deputy Sheriff's Association has approved a deal that would alter the pension system for new hires and require current deputies to pay more into the pension system annually...

Under the plan, the deputies would increase their contribution to the retirement system. They currently pay about 6 percent of their salary. That would jump to 9 percent or 10 percent this year and top off at nearly 13 percent next year. In exchange they would get a 3.8 percent raise next year on top of the 2 percent to 5 percent cost of living adjustment they were already scheduled to receive.


Sacramento deputies adopt pension plan changes - Sacramento City News - sacbee.com (http://www.sacbee.com/2010/08/10/2949433/sacramento-deputies-adopt-pension.html#storylink=omni_popular#ixzz0wGpC58ay - broken link)


Unless I'm reading this incorrectly, it seems they are being given extra money to pay the additional pension contribution.

[Curmudgeon]

Originally Posted by NewToCA

Unless I'm reading this incorrectly, it seems they are being given extra money to pay the additional pension contribution.

Sounds right to me. As with most retirement issues, there really isn't a lot of benefit, overall, for the county but it sounds good to both the unions and the populace for the time being. In this case it's simply a cost shift and strongly resembles a Ponzi scheme!