{"id":3660,"date":"2008-11-18T04:45:43","date_gmt":"2008-11-18T12:45:43","guid":{"rendered":"http:\/\/www.carlsbadistan.com\/?p=3660"},"modified":"2008-11-18T11:54:42","modified_gmt":"2008-11-18T19:54:42","slug":"mayor-wants-to-adjust-pensions-plans","status":"publish","type":"post","link":"http:\/\/www.carlsbadistan.com\/?p=3660","title":{"rendered":"Mayor Wants To Adjust Pensions Plans"},"content":{"rendered":"<p>The pension plan that makes working for the City of Carlsbad so attractive may not be around after 2010 if Mayor <strong>Bud Lewis<\/strong> has his way, according to a <strong>Barbara Henry<\/strong> story in the <strong><em><a href=\"http:\/\/www.northcountytimes.com\/articles\/2008\/11\/15\/news\/coastal\/carlsbad\/z76dde8dc1d8b591f8825750000659c25.txt\" target=\"_blank\">North County Times<\/a><\/em><\/strong>.<\/p>\n<blockquote><p>The mayor said his rough proposal calls for decreasing retirement benefits that the city will eventually pay to any city employees hired after 2010 &#8212;- employees hired before then wouldn&#8217;t be affected. . . . Instead of a &#8220;3 percent&#8221; plan, the new city employees could end up with a &#8220;2.5 percent&#8221; or a &#8220;2.7 percent plan,&#8221; he said. . . . In Carlsbad, general city employees are eligible for a &#8220;3 percent at 60&#8221; plan, meaning that if they retire at age 60, they receive an annual pension equal to 3 percent of their highest yearly salary, multiplied by the number of years they were employed by the city. . . .Firefighters and police get the deal at age 50.<\/p><\/blockquote>\n<p>Many cities are finding that cost of pension plans can get extremely costly down the road. In some cases contributing to <strong><a href=\"http:\/\/www.ci.vallejo.ca.us\/GovSite\/default.asp?serviceID1=712&amp;Frame=L1\" target=\"_blank\">the city filing for bankruptcy protection<\/a><\/strong>. That is apparently not the case in <em>Carslbadistan<\/em>, however, those is want the good pension plan better get on with the City before 2010.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.northcountytimes.com\/articles\/2008\/11\/15\/news\/coastal\/carlsbad\/z76dde8dc1d8b591f8825750000659c25.txt\" target=\"_blank\">North County Times<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pension plan that makes working for the City of Carlsbad so attractive may not be around after 2010 if Mayor Bud Lewis has his way, according to a Barbara Henry story in the North County Times. The mayor said his rough proposal calls for decreasing retirement benefits that the city will eventually pay to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[15,22],"tags":[],"_links":{"self":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/3660"}],"collection":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3660"}],"version-history":[{"count":1,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/3660\/revisions"}],"predecessor-version":[{"id":3661,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/3660\/revisions\/3661"}],"wp:attachment":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3660"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}