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The 70% Solution

Original post made by Common sense, Atherton: other, on Aug 7, 2013

Question: How many private companies do you know of that make an employee's 401(k) contribution for him in addition to providing the employer match?

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Posted by Common sense
a resident of Atherton: other
on Aug 7, 2013 at 10:40 pm

Just to give some idea on what the value of Atherton making an Atherton police officer's pension contribution for him is, in San Francisco, it amounts to about 20% of a cop's salary. Figuring $100,000 per year (a low end estimate) for Atherton cops, that's $20,000 of extra compensation in addition to being paid at the 70th percentile.

Nice work if you can get it!

You won't hear this being discussed by the APOA, Lewis, Wiest, or at council meetings. They don't want it known.

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