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by WildUtah
4246 days ago
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That's not true at all. California cops can make $200k a year cash just with overtime and incentives. Including pension schemes and other benefits, it's common for mid-career CA cops to make upwards of $500k. Consider that 25 year CHP officers can collect lifetime pensions at the highest pay, including overtime accumulated from previous years and cashed out. At a US inflation adjusted bond discount rate of 0-1% typical over the past decade and usual life expectancy tables, that adds up to 1.5-3 extra years of pay in pension benefits for each year of service. That's computed according to what you'd have to put into a 401(k) to pay for the pension; the state of California is putting somewhat less into CalPERS and hoping to get bailed out by private sector taxpayers or the Federal Government someday. (CA isn't doing as badly as MA or IL or some others on pension funding, though) NYC is paying much more rationally and budgeting better than other big city and coastal governments which is one reason there are enough cops there to keep order. |
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Could you provide a source for this? I checked the salary database for the city and county of San Francisco and, while there were 2099 people in the police department with total pay over $100,000, nobody had total pay of $500,000 - and the maximum was $345,000.
http://www.sfgate.com/news/databases/?appSession=45847910566...