
www.inlandpolitics.com
Monday, November 15, 2010 – 11:25 p.m.
Tuesday the San Bernadino County Board of Supervisors will honor outgoing county counsel Ruth Stringer with a resolution commending her for 32 years of service to the county.
Even though the board really showed Stringer to the door.
Stringer’s motivation for not wanting to leave now has all to do with one thing. Her pension.
A pension which has become crystal clear over the past few months.
If Stringer could have served four more years, her retirement percentage would have climbed from an estimated 83.80% t0 100.00% of her pensionable (earnable) compensation.
Nevertheless, Stringer more than likely walks away assuming the most prestigious honor as San Bernardino County’s highest paid retiree.
Yes, it’s true.
Stringer’s updated retirement calculation is as follows:
Base Annual Salary $ 230,110.40
Benefit Plan $ 6,000.00
Supplemental Retirement Allowance $ 11,391.90
Automobile Allowance $ 14,400.00
Vacation Leave Cash-out (Eligible for pension calculation) $ 17,700.80
Administrative Leave (Eligible for pension calculation) $ 8,850.40
Holiday Leave (Eligible for pension calculation) $ 11,391.90
--------------
Earnable Compensation $ 303,244.06
--------------
7% County-paid Retirement Contribution received as cash back $ 21,227.08
--------------
Total Earnable Compensation for retirement purposes $ 324,451.14
Estimated retirement percentage based on age 60 w/ 32 years of service 83.80%
Estimated Annual Pension $ 271,890.05
Talk about a windfall.
Continue reading →