A cheaper, third pension tier for Contra Costa sheriffs deputies is now permanent under legislation signed by Gov. Jerry Brown today.
Authored by state Sen. Mark DeSaulnier, D-Concord, SB373 eliminates the Jan. 1, 2012, sunset clause for the less expensive Tier C, which sets the pension formula of employees hired Jan. 1, 2007, or after, at the average salary of the highest three years of wages and establishes a 2 percent annual cost of living increase. The more generous benefit pays based on an employee’s highest single year of salary and a 3 percent annual cost of living adjustment.
The county and Deputy Sheriffs Association negotiated the deal in 2006 but the legislation contained an expiration date.
Both sides wanted time to evaluate the financial impacts. The county wants to lower its pension costs, while deputies have struggled to pay their share of contribution rates.
The Senate and the Assembly voted unanimously in favor the bill.