State Controller Posts Local Government Salaries

[ucodegen]

[quote sdrealtor]If I’m a cop, I’m not happy looking at those numbers. I just went through the SD numbers and the only thing rarer than a police office making more than $100K was a firefighter making less than $100K.[/quote]
I think it is the OT that the Fire Fighters clock up. The three dollar columns are, from left to right; Min $, Max $, Actual $. I suspect the Min$ and Max$ are calculated based upon normal 40 hour work week.

Likewise, for some of the lifeguards, I see a min=$33,758 max=$40,560 Actual $10,120.

What struck me is not the $ pay on some of these, but the layers of management. Like 9 deputy directors for Metropolitan Waste Water Department. This does not include the 21 Associate Management Analysts also working for the Metropolitan Waste Water Department. What is also a bit unusual is that the top salary of an “Associate Management Analyst” is close to that of an “Information Systems Analyst II”.

There are also 16 “Water Utility Supervisors” for 33 “Water Utility Workers” for the “Metropolitan Waste Water Department”

There are 12 “Word Processing Operator”s also for the Metropolitan Waste Water Department. I thought the old “steno-pools” were gone as part of MSFT Windows and MS Office products being pretty ubiquitous.

[Eugene]

[quote=no_such_reality]Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…[/quote]

And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.

[Eugene]

[quote=no_such_reality]Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…[/quote]

And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.

[Eugene]

[quote=no_such_reality]Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…[/quote]

And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.

[Eugene]

[quote=no_such_reality]Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…[/quote]

And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.

[Eugene]

[quote=no_such_reality]Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…[/quote]

And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.

[no_such_reality]

[quote=Eugene]
And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.[/quote]

Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057

It’s a defined benefit plan and not a defined contribution plan.

So $2,057/$154,440 is what 1.3%? A far cry from the hypothetical 7.75%

The equivalent non-inflation indexed NPV of a $100,000/yr annuity is roughly $1,700,000. With survivor benefits a little more. Can’t get them indexed to inflation or with medical benefits. That’s today and those value are highly dependent on current rate of return.

The 87 years number comes from a CalPers study that says counter to the claims, the safety workers live longer and are healthier than their non-safety counterparts with an average age of death of 87. The link is posted elsewhere here on Piggington.

For giggles, I looked at a local Orange County city. Not the firefighters, but the police. it had 802 entries. 58 entries had bad data (no actual pay and small rang: i.e. $4900-$5600)of the remaining, 108 showed less actual earnings than the minimum on their position. I’m assuming those are new hires, people leaving and or the odd disability (again CalPers shows low disability rates). of the remaining, 609 made more than 100% of the maximum published salary. Only 28 made actual earnings between minimum and maximum published salary.

So 75% made over 100% of max, and approximately 3% made between published min and max.

As for life expectancy, http://www.irs.gov/pub/irs-pdf/p590.pdf shows 55 single life to be 29.6 years.

[no_such_reality]

[quote=Eugene]
And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.[/quote]

Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057

It’s a defined benefit plan and not a defined contribution plan.

So $2,057/$154,440 is what 1.3%? A far cry from the hypothetical 7.75%

The equivalent non-inflation indexed NPV of a $100,000/yr annuity is roughly $1,700,000. With survivor benefits a little more. Can’t get them indexed to inflation or with medical benefits. That’s today and those value are highly dependent on current rate of return.

The 87 years number comes from a CalPers study that says counter to the claims, the safety workers live longer and are healthier than their non-safety counterparts with an average age of death of 87. The link is posted elsewhere here on Piggington.

For giggles, I looked at a local Orange County city. Not the firefighters, but the police. it had 802 entries. 58 entries had bad data (no actual pay and small rang: i.e. $4900-$5600)of the remaining, 108 showed less actual earnings than the minimum on their position. I’m assuming those are new hires, people leaving and or the odd disability (again CalPers shows low disability rates). of the remaining, 609 made more than 100% of the maximum published salary. Only 28 made actual earnings between minimum and maximum published salary.

So 75% made over 100% of max, and approximately 3% made between published min and max.

As for life expectancy, http://www.irs.gov/pub/irs-pdf/p590.pdf shows 55 single life to be 29.6 years.

[no_such_reality]

[quote=Eugene]
And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.[/quote]

Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057

It’s a defined benefit plan and not a defined contribution plan.

So $2,057/$154,440 is what 1.3%? A far cry from the hypothetical 7.75%

The equivalent non-inflation indexed NPV of a $100,000/yr annuity is roughly $1,700,000. With survivor benefits a little more. Can’t get them indexed to inflation or with medical benefits. That’s today and those value are highly dependent on current rate of return.

The 87 years number comes from a CalPers study that says counter to the claims, the safety workers live longer and are healthier than their non-safety counterparts with an average age of death of 87. The link is posted elsewhere here on Piggington.

For giggles, I looked at a local Orange County city. Not the firefighters, but the police. it had 802 entries. 58 entries had bad data (no actual pay and small rang: i.e. $4900-$5600)of the remaining, 108 showed less actual earnings than the minimum on their position. I’m assuming those are new hires, people leaving and or the odd disability (again CalPers shows low disability rates). of the remaining, 609 made more than 100% of the maximum published salary. Only 28 made actual earnings between minimum and maximum published salary.

So 75% made over 100% of max, and approximately 3% made between published min and max.

As for life expectancy, http://www.irs.gov/pub/irs-pdf/p590.pdf shows 55 single life to be 29.6 years.

[no_such_reality]

[quote=Eugene]
And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.[/quote]

Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057

It’s a defined benefit plan and not a defined contribution plan.

So $2,057/$154,440 is what 1.3%? A far cry from the hypothetical 7.75%

The equivalent non-inflation indexed NPV of a $100,000/yr annuity is roughly $1,700,000. With survivor benefits a little more. Can’t get them indexed to inflation or with medical benefits. That’s today and those value are highly dependent on current rate of return.

The 87 years number comes from a CalPers study that says counter to the claims, the safety workers live longer and are healthier than their non-safety counterparts with an average age of death of 87. The link is posted elsewhere here on Piggington.

For giggles, I looked at a local Orange County city. Not the firefighters, but the police. it had 802 entries. 58 entries had bad data (no actual pay and small rang: i.e. $4900-$5600)of the remaining, 108 showed less actual earnings than the minimum on their position. I’m assuming those are new hires, people leaving and or the odd disability (again CalPers shows low disability rates). of the remaining, 609 made more than 100% of the maximum published salary. Only 28 made actual earnings between minimum and maximum published salary.

So 75% made over 100% of max, and approximately 3% made between published min and max.

As for life expectancy, http://www.irs.gov/pub/irs-pdf/p590.pdf shows 55 single life to be 29.6 years.

[no_such_reality]

[quote=Eugene]
And how did he manage to get this pension? By contributing to his pension plan for 30 years. If he had started with $80,000 a year and $2000/year raises, he contributed 7% of his pretax salary to a 401k, his employer matched the contribution, and the 401k averaged the same rate of return (7.75%) as CalPers, he would have had approximately $1.5 million in the pension fund. Which, again assuming continued 7.75% rate of return in the future, would have lasted him till 83 or so with $126,000/yr annual withdrawals.

By the way, where did you get 87? The 2005 United States life table shows the life expectancy of a 55-year-old to be 26 to 27 years.[/quote]

Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057

It’s a defined benefit plan and not a defined contribution plan.

So $2,057/$154,440 is what 1.3%? A far cry from the hypothetical 7.75%

The equivalent non-inflation indexed NPV of a $100,000/yr annuity is roughly $1,700,000. With survivor benefits a little more. Can’t get them indexed to inflation or with medical benefits. That’s today and those value are highly dependent on current rate of return.

The 87 years number comes from a CalPers study that says counter to the claims, the safety workers live longer and are healthier than their non-safety counterparts with an average age of death of 87. The link is posted elsewhere here on Piggington.

For giggles, I looked at a local Orange County city. Not the firefighters, but the police. it had 802 entries. 58 entries had bad data (no actual pay and small rang: i.e. $4900-$5600)of the remaining, 108 showed less actual earnings than the minimum on their position. I’m assuming those are new hires, people leaving and or the odd disability (again CalPers shows low disability rates). of the remaining, 609 made more than 100% of the maximum published salary. Only 28 made actual earnings between minimum and maximum published salary.

So 75% made over 100% of max, and approximately 3% made between published min and max.

As for life expectancy, http://www.irs.gov/pub/irs-pdf/p590.pdf shows 55 single life to be 29.6 years.

[Eugene]

[quote]Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057 [/quote]

Looked at firefighters in Escondido.
Firefighters/paramedics: median wages $100,350; median contribution to the retirement fund $7,870.

Fire engineers: median wages $113,984; median contributions $8,427.

[Eugene]

[quote]Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057 [/quote]

Looked at firefighters in Escondido.
Firefighters/paramedics: median wages $100,350; median contribution to the retirement fund $7,870.

Fire engineers: median wages $113,984; median contributions $8,427.

[Eugene]

[quote]Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057 [/quote]

Looked at firefighters in Escondido.
Firefighters/paramedics: median wages $100,350; median contribution to the retirement fund $7,870.

Fire engineers: median wages $113,984; median contributions $8,427.

[Eugene]

[quote]Fire Department Fire Engineer Min $61,588 Max $74,464 Actual $154,440 Retirement 3.0% @ 50 Employee contribution to retirement: $2,057 [/quote]

Looked at firefighters in Escondido.
Firefighters/paramedics: median wages $100,350; median contribution to the retirement fund $7,870.

Fire engineers: median wages $113,984; median contributions $8,427.

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