By Matt Artz
Wednesday, November 17th, 2010 at 6:49 pm in Uncategorized.
I spoke to Newark City Manager John Becker, who’s got his own set of problems, but pension rates over 30 percent aren’t one of them.
Where’s Fremont will be paying 36 cents on the dollar next fiscal year to fund police and fire pensions, Newark will be paying a little over 22 cents.
Here’s the breakdown for fiscal year 2011
Public safety pension rate:
Fremont: 36.5 percent
Newark: 22.5 percent
Fremont: 22.9 percent
Newark: 14.2 percent
Part of the reason Newark pays less for police pensions is that Newark police contribute 13 percent of their pay to their pensions compared with 9 percent for Fremont police. Union City police don’t pay anything.
Becker said there are several other factors such as salaries and age of workforce.
Happy Birthday to Mayor Smith. He turns 65 today. He’s been mayor for half his life.