At the Conejo Post, the focus continues on pensions for public employees in Ventura County and Conejo Valley cities and agencies. Let’s examine what employees pay into their retirement funds in Westlake Village and Las Virgenes Municipal Water District (LVMWD). I keep reading of how much more generous the public sector pensions are, compared to private sector, so let’s check locally.
The 3-12-11 Acorn reported that as of this month, new hires working for the City of Westlake Village, will be required to pay 5.8% of their pension contrutions. For existing employees, including City Council members, that 5.8% contribution will be phased in over 5 years. What does that mean? That basically they are paying 1% for the 2012-2013 year?
Not so, with most of the employees at LVMWD. According to a 7-12-12 article in The Acorn, while the 32 folks in management pay a 1% contribution, the remaining 85 employees contribute nothing. The article by Sylvie Belmond stated that the employees also receive Social Security.
What do you think? Should an agency or city pay 100% of pension contributions, or 99%? After all, that really means taxpayers are making the payments, doesn’t it?