Chico PD Employees to Pay More into Own Pensions

Pending city council's approval of an amendment to the CalPERS agreement, non-sworn police department employees will get a 2% raise, while paying part of the city's share of their retirement funds.

Posted: Tue Apr 17 07:11:11 PDT 2018
Updated: Tue Apr 17 07:11:11 PDT 2018

Speech to Text for Chico PD Employees to Pay More into Own Pensions

Below is the closed-captioning text associated with this video. Since this uses automated speech to text spelling and grammar may not be accurate.

meaghan meaghan a select group of chico city employees will likely soon be putting more of their paychecks into their retirement finds ... julia julia pension payments comprise some 11 percent of the general fund for most california cities. tonight - the chico city council is set to vote on a plan which will have some employees picking up more of their own boxes action news now reporter hayley skene joins us with a look at the problem .. and who this decision could impact, hayley? reporter live good morning, i'm here at thepolice department where 40 non-sworn employees may be doing even more to help their city ... by putting 3 percent more of their paychecks into their retirement funds. vo and that 11 percent average you mentioned? well in chico, the city already spends about 17 percent of the general funds on pension costs... and by 2020 that will go up to 27 percent. as the agreement with state pension program "calpers" now stands, these public safety association workers already put in three percent of each paycheck ..and this change would increase that to 6 percent. so, city manager mark orme says they need to get ahead of sot full we've been planning since the first day i got here how to best mitigate and unsustainable pension sytem that continues to grow. as we look out and forecast we're seeing hte growth, and it's going to hapen in every community. ### vo orme says the plan has been in the works since january ... now, it's up to council to finalize the details with the ammendment to the calpers agreement. and although employees are paying more, they're also getting about a two percent pay raise. while the public safety associaiton is a smaller union in the city ... reporter live i spoke with other union reps in chico who say they're expecting their group to be asked to also contribute more to their own pensions in the coming months or years. live in chico, hayley skene, action news now.### julia julia
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