At its March 21, 2018 meeting, the Encinitas City Council approved a new four-year contract with the Encinitas Firefighters' Association. This replaces the previous contract which expired on December 31, 2017.
Effective Date Base Pay Increase Cost Sharing Increase Net Increase March 16 ,2018* 3.5% 1.5% 2.0% 3.0% 1.0% 2.0% 2.5% 0.5% 2.0% 2.0% 0.0% 2.0%
The median firefighter pay was already $138,000 in 2016, and $183,000 including benefits.
The effect of the cumulative 11.5% increase in base pay is an 11.5% increase in future pension benefits and costs, while the "cost-sharing increase" minimizes the impact to the current council's budget. The council could have just given firefighters the straight 2% cost of living increase without using the "cost-sharing" gimmick to spike pensions even further.
Encinitas' pensions remain severely underfunded despite the decade-long stock market rally.
Meanwhile, the Encinitas $100,000 pension club already has 20 members.