The commissioners lied, saying if we worked on Labor Day, we simply would lose a banked holiday, not pay. They reduced our gross income by approximately a days pay. To make up for the reduction, in hopes we wouldn't notice the loss of pay, the commission chose to reduce our pension contribution by approximately 8.5% to balance out our net income.
Trying to keep this simple as possible, the county's legally required pension contribution of 17%, was also reduced. The county saved just over 8 hundred thousand dollars.
What does this mean to us is? It means the pension fund itself is short 8 hundred
thousand dollars. It means, we have to go through this again two more times this year (Veterans Day/Day after Thanksgiving). It means the pension fund will be short over 3 million dollars for 2011 (not including the kick in the pants from the market being down). It means, your monthly pension pay out, should you retire, will be reduced.
One officer tried to get an explanation from the Finance Department. In part, here is the answer he received;
"I hope this answers your questions. Please contact me if you have further questions. Additionally, I noticed that there are some questions and responses to the unpaid holiday on the Police blog that others have responded to which may be of help to officers who have similar specific questions."Looks like the county has finally legitimatized our blog.
To read the full response, click here.
The madness and thievery continues.