Heather Fong's Pension: $277,656 Per Year
|Heather Fong has become the poster child for oversize pensions|
And yet, no matter how diligently the former chief performed her duties, it's hard not to drop one's jaw at the size of the gargantuan lifetime pension payments Fong is earning as a 53-year-old retiree. That was the gist of a story in today's Chronicle, which claimed the ex-chief is drawing an annual pension of $229,500.
Well, get ready to drop your jaw a little bit more, because the aforementioned number is not accurate. It's too low. By plenty.
According to the San Francisco Employee Retirement System (SFERS), Fong actually earns two city pensions: One of $566 per month for her (brief) time as a miscellaneous-class employee and a second of $22,572 per month for her 30-plus years as a safety worker. Doing the simple math that's $23,138 per month or $277,656 per year.
SF Weekly wrote a lengthy story about the city's pension quagmire in November. We included a list of the city's highest-earning pensioners, which of course Fong topped. But, she was earning only $265,558 at that time. SFERS' Norm Nickens tells us that workers have received a subsequent Cost of Living Adjustment.
Of course they have.
|Apparently, these 2010 stats are outdated already. And not in a way that helps the city balance its books.|