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Monday, April 25, 2011

Pensions: How Many Earn $195,000 or More?

Posted By on Mon, Apr 25, 2011 at 12:56 PM

click to enlarge scrooge_mcduck_make_it_rain.jpg

The Chronicle ran an interesting front-page story today acknowledging that pension reform is the dinner guest no one at the wanna-be mayoral table invited -- but can't get rid of.

Our would-be leaders are grilled about their stance on runaway pensions; most of them embrace the term "negotiated deal," although negotiated deals are what got the city into the mess it's in. They also kick dirt at pension crusader Jeff Adachi -- to do otherwise is considered an affront to organized labor.

Mentioned within today's story is an aside about capping future employees' pensions at $195,000. This prompts the question: How many San Francisco retirees would currently be affected? The answer:


Thirteen. You can see the list of the city's highest-earning pensioners right here. Not exactly hard-hitting legislation.

A few more may soon pop over the $195,000 mark via Cost of Living Adjustments and the like -- but, remember, any pension caps are for future employees, not current ones. So such a move affects the payouts, 30 years or so down the road, of people not yet hired. That's why controller Ben Rosenfield noted that, while it sounds righteous enough, capping pensions for future hires won't save you beans in the short term.

And not saving beans doesn't amount to a hill of beans in this crazy world. Someday you'll understand that. 

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About The Author

Joe Eskenazi

Joe Eskenazi

Joe Eskenazi was born in San Francisco, raised in the Bay Area, and attended U.C. Berkeley. He never left. "Your humble narrator" was a staff writer and columnist for SF Weekly from 2007 to 2015. He resides in the Excelsior with his wife, 4.3 miles from his birthplace and 5,474 from hers.


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