At long last, Marco Island City Council gave the city debt and employee pension costs presentations.
In Florida state, Marco is highest in municipal debt burden per capita; three times Orlando, four times Tampa; second highest in municipal taxes and water sewer utility charges; highest for WSU debt.
Marco’s per capita debt is $13,300, while bankrupt Detroit, has only $14,700 debt per capita.
A typical city employee with annual compensation of $100,000, combined with three percent cost of living adjustment, and 300 hours of overtime. Unless my math is rusty it’s about $125,500 yearly.
Using these numbers at retirement after six years, the employee would receive $22,590 a year for the rest of his life. At nine years’ service, $33,885; at 20 years, $75,300, and at 25 years, $94,125.
Additionally, the fire department received $420,630 to be divided amongst them in fiscal year 2012.
I find all this, if not disgraceful, then certainly in poor judgment. Our military members who routinely suffer through several months’ long deployments away from home and loved ones, where they go to bed being shot at and wake up being shot at; or spend month after month several hundred feet under the oceans in defense of our country, do not qualify for these Cadillac retirement plans.
I know that being a fireman or policeman is dangerous, and I think our police and fire employees do a great job, but our compensation packages are way out of proportion.
Why did council wait until after the budget and the new contracts with the fire and police departments were approved?