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by GabrielF00
4246 days ago
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>Including pension schemes and other benefits, it's common for mid-career CA cops to make upwards of $500k. 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... |
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Then generous pensions kick in. CA cops and firemen usually get full pensions after 20-25 years but the pension is paid not just on salary but a multiple of final year vacation and comp time. Pensions can be 2x-3.5x final 'base' salary and higher than any overtime adjusted salary. CalPERS is hoping for 5% above inflation returns but for a decade has made about 1%. At 1%, you essentially have to save or take on future liability for the whole pension during working life. No private employer provides these benefits after 20-25 years or on this basis at all because it would mean bankruptcy.
Public finance allows it so the total compensation of a cop getting $200k in salary, adjustments, and benefits is often over $500k all in. Some of that will be the bankruptcy and bailout.
Google "Vallejo firefighter bankruptcy" for details of CA's future public safety service.