It’s very hard to believe that “longevity” pay was
included in the “base salary” in 2008. If it were always included, how could the “base salary” increase $ 45, 660.72 or 32.2% in just 6
years? The change in “longevity” pay
from 10% (at 20 years) to 12% (at 24 years) couldn’t make the drastic changes
above.
If the base salary was $ 141, 750 in 2008 and it
grew 2% each year, the base salary for 2014 would be $ 159, 633.52. If that were the final compensation, the
Chief would collect an annual pension of $ 106, 954.46 ($ 8,912. 87 a month for
the rest of his life).
Because the final compensation listed is $ 187,
410.72, he will collect an annual pension of $ 125, 565.18 ($ 10, 463.77 a month
for the rest of his life).
This administration didn’t even know at the last
meeting that “longevity” was in the 2014 contract or that it was listed
separate from the “base annual salary”.
It’s very sad the public (myself included) never
monitored what the Lodi politicians have been doing over the years. Look at what they have gotten away with.
