There's an odd turn in the Inquirer
story today (Jan. 23) about the contract negotiations between the city and its unions, Miriam Hill wonders out loud whether the long-term gains -- concessions from the unions over benefits -- is worth the short-term cost of giving the unions pay increases in orde . To get pension concessions from the police, for instance, the city will have to cough up pay increases ranging from 3% and 4% plus the possibility of more in the out years. Mayor Nutter's response? Yes, but look what we got -- the potential of $190 million in pension cost savings on police pensions over the next 30 years. Let's do the math: the pension savings will average $6.3 million a year over the next 30 years. The pay increase for police alone will cost the city an average of $24 million a year over the next three years.
