City pay, pension costs rising Around Town, posted by @taxpayer, a resident of the Midtown neighborhood, on Dec 19, 2012 at 12:15 am
While other cities are reducing the pension and government cost, why the pension costs are rising significantly in Palo Alto! The rise is significant starting from 2012, big jump in 2015, another huge jump in 2017 (to $40m). Wow!!!
In 2005, city employees contributed 41% to their pension, this year they contribute 13.7% and in 2016 (4 years from now), they contribute a mere 7.9% to their pension.
This is a really good deal. How do we apply for a city position!!