Santa Clara County Grand Jury
• 2009-2010
• Agency Response
Response to:
Unsustainable Employee Costs
S . an - ta..C.la.ra Mayor Patricia M. Mahan ifijr Council Members
⚠️ Aviso de traducción: Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 1 findings
F5
Page 6
Pension formula changes instituted in the past decade, stock market losses,the aging "baby boomer" work force, and the growing unfunded pension and OPEB liability all contribute to making retiree pension and health care costs the most problematic and unsustainable expense the cities are facing. The city contribution to pension plans and OPEBs far exceeds the employee contribution. City Response 5: The City agrees with the finding.
Related Recommendations (2)
R5b
Page 6
Cities should thoroughly investigate reverting to prior pension formulas that were less costly.
R5c
Page 7
To provide a meaningful, long-term solution, the cities should negotiate agreements to: 1) Institute a two-tier system for pension and retiree health care for new hires. 2) Increase the retirement age from 50or 55to 60 or 65. 3) Calculate pensions on the last three to fiveyears ofsalary.
No Responses Found 1
Government entities assigned to respond to this report. No response documents have been linked in our database.
Santa Clara
City