Administration's False Narrative on July 15th has Collapsed...

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.

3 Signed off on the Retirement Package. Who Kept the Records?

The contract never had a defined work day (or week).  How were the records kept and who was ultimately responsible for keeping them?  

Longevity Contradiction?

At the last council meeting, the following Fact Sheet was discussed:

Fact Sheet #56:

 http://www.state.nj.us/treasury/pensions/pdf/factsheets/fact56.pdf

Everyone seemed to agree that for “longevity” pay to be included as part of an employee’s annual base salary at the time of retirement, it had to be included throughout the entire career.

This administration claimed this took place with regard to the Chief’s reported numbers.  I asked: if that were the case and you look at his reported base salaries within the last ten years, shouldn’t you see a pattern of maybe a 2% increase each year?  The spokesperson for this administration seemed to agree.

The Asbury Park database reported the Chief’s 2009 base salary to be $154, 252.  It reports his 2013 base salary to be $ 183, 736.  That is a $ 29, 484 base salary increase (19.1% raise in just 4 years).  Even if his longevity award grew from 10% in 2009 to 12% in 2013, it still would not add up to a 19% base salary increase.

The longevity pay was included with the base salary in 2013 (when the Chief was first mentioned to retire).  It was included in 2014 because this administration listed his base salary at $ 187, 410.72 at the time of retirement.  From 2013 to 2014, there was a 2% increase.

The public will have to see more reported base salaries to determine if there was a retirement spike (which isn’t allowed) and if longevity pay was being reported throughout the entire career (which is required).