Word: pension
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...city manager. TABLE A SUMMARY: THE MAGNITUDE OF THE PROBLEM FOR FY 82 INCREASES IN COSTS AND LOSSES IN REVENUE 1. Uncontrol table items a. Losses in Tax Revenue Du to Proposition 2 1/2 $14.70 million* b. Increased Assessments Charped to the City $ 0.84 million c. Increased Pension Costs $ 0.40 million d. Increased Unemployment Benefits $ 0.23 million e. Changes in State Aid $ --- million! f. Changes in Federal Aid $ --- million! 2. Nominally Controllable Items a. Wage and Salary Increases $ 4.75 million** b. Increased Health Benefits $ 1.30 million*** c. Increased Energy Costs $ 0.96 million! d. Increased Interest Costs (Net of Income...
...issue that had promised to be a major stumbling block was sidestepped. The operators demanded the right to stop contributing to a multicompany pension trust fund and instead set up individual company retirement plans. Union officials feared that such company programs would not be as secure as the existing fund. In their last offer, however, the operators backed away from their demand, but asked in return, as one union official put it, that "we accept everything else...
...salary couldn't be increased." Says a State Department official: "He has been working very loyally for 55 years. The image ... is kind of poignant." Not to get sloppily sentimental about the affair, though, a bureaucrat adds: "There is a question of whether he was part of the pension plan...
Bruce said the pension increases probably would not allow the incomes of retired employees to completely keep pace with inflation, but added that along with social security increases, the increases would help lower-income persons...
...increase in benefits resulted from the University personnel office's continual monitoring of retired person's incomes and inflation. Bruce said, adding that these efforts will be kept up to see if future pension increases would be necessary...