TAB Study Referenced in Palm Beach Post Editorial
Posted by PBCTAB on February 26, 2011 · Leave a Comment
Our study of county pay and benefits ( Palm Beach County Pay and Benefits – How Much is Enough? ) was recently referenced in a Post editorial ( Rein in fire-rescue costs: Pay that was reasonable in better times no longer is ) regarding Fire/Rescue compensation.
We came to the conclusion that the county should consider these elevated levels of compensation when they begin contract negotiations with the IAFF shortly. The Post agrees.
It should be noted that since the time of our study, the Governor has proposed FRS changes that would require participants to contribute 5% of their salary to their pension. County Budget Director John Wilson indicates that each 1% pension contribution is worth $1.4M in Fire/Rescue. Additionally, the FRS accrual rate for special risk class (about 87% of Fire/Rescue employees) would drop from 3% to 2% – potentialy worth another 7% in expense. All other things being equal, these changes, if enacted, would reduce the average Fire/Rescue compensation by about $10,000.