Kearney Kennedy has compiled a listing for employee pay, overtime and benefits in 2010. As he pointed out, there were 200 employees whose annual compensation exceeded $150k and 85% (171) of these employees worked in the Fire and Police departments. With the City voting to approve their employee contracts, here’s some food for (sobering) thought.
The retirees came from near and far, gathering in a muggy auditorium here to listen to an urgent pitch: give back a big chunk of your pension or risk losing it all. This city of 19,000 is broke and headed for bankruptcy, partly because it has promised retired police and firefighters millions of dollars in pensions and benefits that it cannot begin to afford.
Not implying that Alameda is headed for bankruptcy (although Kevin did raise that possibility), but promising millions of dollars in benefits is simply not sustainable.