Recalculation of Pension Benefits

Yes the city finally caught up. But what about the Interest and investment profits that would have been made on that money, had they funded it properly 20 years ago.

I want to remind the community that we have paid 7 percent of our pay off the top since we started working this job.
We earned it for all the usual reasons that police and fire earn it and we paid for it in blood.
The City failed to completely fund the pension and is still catching up on the money they need to replace in the pension fund.
It is money we earned and are entitled, and paid for.
This is not a case of the city giving a us a freebee.

Yes we have paid 7% of our pay into the pension since day one and yes the pension was underfunded by the city, but as of now it is nearly 100% funded and in great shape.

Yes the city finally caught up. But what about the Interest and investment profits that would have been made on that money, had they funded it properly 20 years ago.

I want to remind the community that we have paid 7 percent of our pay off the top since we started working this job.
We earned it for all the usual reasons that police and fire earn it and we paid for it in blood.
The City failed to completely fund the pension and is still catching up on the money they need to replace in the pension fund.
It is money we earned and are entitled, and paid for.
This is not a case of the city giving a us a freebee.

Yes we have paid 7% of our pay into the pension since day one and yes the pension was underfunded by the city, but as of now it is nearly 100% funded and in great shape.

[FD Bro']

WTF ! Just got a letter from the City's Pension Office:
A recent audit of their calculation system shows some pensions were incorrectly calculated.
As a result calculations since 2007 were corrected and overpayments were found, which the city now wants to recover.

I thought City Auditors went over everything before we signed our retirement papers !
Time for a class action suit .....

https://spreadsheets.google.com/spre...8zaEE&hl=en_US

Hi Kenny.

A few weeks ago it was discovered that for several years our Captains and District Chiefs FLSA overtime was being improperly calculated. Some years ago (2003, maybe) when the union received an affirmative ruling from PERC to bring our Captains and DC's back into the union, the method for calculating their FLSA overtime should have changed. It didn't. As a result the city has gone back two years in recalculating what it owes these folks and have come up with a spreadsheet documenting what is owed. When asked "Why only two years?" the answer goes like this: "When honest mistakes in calculations are made, the city need only go back two years."

I don't want to see the city get into any of your paychecks but if they do, I would think that reaching back no more than two years should be a two-way street.



Fraternally,



FD Bro'

WTF ! Just got a letter from the City's Pension Office:
A recent audit of their calculation system shows some pensions were incorrectly calculated.
As a result calculations since 2007 were corrected and overpayments were found, which the city now wants to recover.

I thought City Auditors went over everything before we signed our retirement papers !
Time for a class action suit .....

https://spreadsheets.google.com/spre...8zaEE&hl=en_US

Hi Kenny.

A few weeks ago it was discovered that for several years our Captains and District Chiefs FLSA overtime was being improperly calculated. Some years ago (2003, maybe) when the union received an affirmative ruling from PERC to bring our Captains and DC's back into the union, the method for calculating their FLSA overtime should have changed. It didn't. As a result the city has gone back two years in recalculating what it owes these folks and have come up with a spreadsheet documenting what is owed. When asked "Why only two years?" the answer goes like this: "When honest mistakes in calculations are made, the city need only go back two years."

I don't want to see the city get into any of your paychecks but if they do, I would think that reaching back no more than two years should be a two-way street.



Fraternally,



FD Bro'

I'm one of the people this change effects....I'm calling BS on this one FD Bro. You seem to come on from time to time but your info is not always 100% accurate.

[quote=Yea OK]

WTF ! Just got a letter from the City's Pension Office:
A recent audit of their calculation system shows some pensions were incorrectly calculated.
As a result calculations since 2007 were corrected and overpayments were found, which the city now wants to recover.

I thought City Auditors went over everything before we signed our retirement papers !
Time for a class action suit .....

https://spreadsheets.google.com/spre...8zaEE&hl=en_US

Hi Kenny.

A few weeks ago it was discovered that for several years our Captains and District Chiefs FLSA overtime was being improperly calculated. Some years ago (2003, maybe) when the union received an affirmative ruling from PERC to bring our Captains and DC's back into the union, the method for calculating their FLSA overtime should have changed. It didn't. As a result the city has gone back two years in recalculating what it owes these folks and have come up with a spreadsheet documenting what is owed. When asked "Why only two years?" the answer goes like this: "When honest mistakes in calculations are made, the city need only go back two years."

I don't want to see the city get into any of your paychecks but if they do, I would think that reaching back no more than two years should be a two-way street.



Fraternally,



FD Bro'

I'm one of the people this change effects....I'm calling BS on this one FD Bro. You seem to come on from time to time but your info is not always 100% accurate.[/quote:xt6yergr]

The point he's making is when they screwed up with the fd the City chose to only go back two years....something that may be of use when dealing with the pd pension fiasco.

[FD Bro']

"I'm one of the people this change effects....I'm calling BS on this one FD Bro. You seem to come on from time to time but your info is not always 100% accurate."


You're one of the people working where?

This affects you, how?

I don't "...seem to come up here from time to time." I'm in here every day. The thread on this board is a month old. I have followed it from when it was first posted. The information that I have - i.e., MY STORY, has just been made more firm with the spreadsheet by HR's Chris Guella and save for the fact that they aren't going back more than two years, I might never have posted on this subject.


What have you got for me, 'Yea(h) OK' or 'Guest' or whatever? I've used a screen name since day one and don't hide. You can come in as 'Guest' next time and continue to be a moving target. Where I got my information from as to the two year 'rule' I won't say but I also find no reason to question his or her veracity.





FD Bro'