Our Work Policy work Consulting on employee compensation and pensions MEPCO House of Commons Finance...
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Transcript of Our Work Policy work Consulting on employee compensation and pensions MEPCO House of Commons Finance...
Our Work
Policy work • Consulting on employee compensation and pensions• MEPCO • House of Commons Finance Committee • Senate National Finance Committee• Provincial consultations on pensions • Municipal consultations on compensation • Policy think tanks
» Chamber of Commerce» Canadian Federation Independent Business
A Decade Deeper
City’s Biggest Expense
Taxation 2012 - $ 710,133,000Employee Compensation - $ 648,794,000
% of Total Taxes – 91.4%
Pensions
Estimated top ten pensions at city $ 40 Million lifetime earnings
Pensions over $100,000 a year 62 employees
Public Sector Salary DisclosureOntario Minister of Finance
Hamilton Average Wage
2002
$36,499
2012
$46,198
Change 26%(CPI 21.7 %)
Statscan - Average hourly wages of employees
Average City Employee Wage
2002
$43,160
2012
$ 70,148
Change 61.5 %
Ministry of Municipal Affairs and HousingFinancial Information Return
2002
Average Hamilton Wage
$36,499
Average City Employee
$43,160
Difference + 18.4%
2012
Average Hamilton Wage
$46,198
Average City Employee
$ 70,148
Difference + 51.9
Compensation Bonus 2002 to 2012
Over compensation of city employees today compared to
2002 is:
$110,416,016 Annually
That’s Just Wages
Total EmployeeCompensation
$ 90,524
Salaries - $ 70,148 – 77.5 %Benefits - $ 20,350 – 22.4 %
Fire Average - $ 131,832Police Average - $128,656
Salaries
2002 - $ 354,499,000
2012 – $ 501,535,000
Increase - 70.6%
Benefits
2002 - $ 33,506,000
2013 - $ 147,259,000
Increase – 439.5%
Sunshine List
Sunshine List 2002 – 37
Sunshine List 2012 – 818
Increase – 2,200%
Big Dogs
2002 2012 Fire Chief - $ 134,690 $ 170,033Police Chief - $ 140,022 $ 228,401City Manager $ 158,965 $ 233,608
Total Increase 68%
Results
Unfunded Employee Benefits - $ 307,504,000
Long Term Debt - $ 1 Billion +++
Infrastructure Shortfall - $1 to $2 Billion
Thank you
Bill Tufts 905-741-1904 Bill @ fairpensionsforall.net