- Use Supervisor’s salary and office budget to support job creation
Savings = $672,000 (**1)
- No health coverage cost.
Savings = $ 43,200 (**2)
- No pension contribution.
Savings = $ 70,000 – $210,000 (**3)
- Lower pension payouts.
Savings = $200,000 – $330,000 (**4)
**1 Estimated 4-year cost of hiring Business Facilitator/Economic Development Director @$120,000 a year +@40% in benefit costs = $168,000 per year.
**2 Source: Cost of 4-year cost of health coverage for at @$900 per month. Source: Ventura County Budget.
**3 Source: Average Employer Contribution for VCERA is 14.85% of salary. Savings depend on how many terms new Supervisor serves. Source: “More Pension Math”; Stanford Institute for Economic Policy Research; 2/21/12.
**4 Differential payout calculated for first 10-years of retirement. Savings depends on how many additional terms incumbent Supervisor serves. Source: VCERA Pension Benefit Calculator