Elections Have Consequences: The No on Measure N Committee outspent and out maneuvered the Yes on Measure N folks by 10 to 1. Your five council members authorized at least $50,000 of your tax dollars without your consent to mail two one-sided information mailers to 200,000 residents. Additionally, at least $123,000 came from developers and other special interests from the No on Measure N Committee.
Voting no on Measure N means:
You are comfortable knowing that we will continue to have a six-figure elite club of CalPERS city employees, 800 city employees earning $100,000 to $300,000-plus per year with enormous pensions to match.
You are willing to accept continuing to pay Glendale CalPERS employees’ retirement: police and fire 90% of their last year’s salary as their pensions for life at age 50/55; city managers 75% for life and general employees 60% for life.
You are willing to accept continued Glendale CalPERS government employees earning a whopping 83% more pay than a full-time Glendale resident.
You are willing to accept as a county employee that Glendale City CalPERS employees earn about 25% more than a comparable county employee and 35%-45% more than a comparable employee in private industry.
You are willing to accept, as a Glendale taxpayer, guaranteeing Glendale CalPERS city employees 7.5% annual rate of return on their investments. I also know that no bank today guarantees 7.5% rate of return on my savings.
You are willing to continue to have an inefficient Glendale Fire Dept., which responds to 85% of all “fire” calls that are medically related and not wild brush fires or burning buildings.
You are willing to accept, as a taxpayer, that Glendale’s unsustainable and unfunded pension obligations are $1.4 billion … and still growing.
You are willing to accept that Glendale’s bond debt is over $1 billion for our children to pay.
You are willing to accept, if necessary, that the City of Glendale is floating a CalPERS pension bond, like the City of Bell, in order to continue paying our city employees outrageous salaries and pensions.
You are willing to accept selling our “historic assets,” even if that includes Rockhaven Sanitarian, Glendale Civic Auditorium, Alex Theater, GWP and Glendale City Hall, to have the best employees that money can buy.