Summary
MORE than a year of negotiations, mounds of evidence, hours of testimony, several months of arbitration and then the police contract award comes in: No raises for two years, an increase in medical insurance copays, an increase in premium cost shares with no cap after two years, new hires into a 401(k) retirement plan and the city saves millions. During the last 20 years, West Haven has contributed about $23 million to 401(k) plans and Social Security taxes for its approximately 220 employees. These are office workers, laborers, drivers and administrators of city government.
That sounds like a lot, but not when comparing it to police pension costs. The West Haven police pension fund for retirees and approximately 120 active officers has cost the city $35 million during the same time period. That's a $12 million difference.See the full content of this document
Extract
West Haven Council Spits On a Victory?
And, in 2002, the previous administration borrowed $66 million to bring the pension fund to the level where it had enough money to pay all its obligat...
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