Nathan Fletcher today released his “CPR Plus” plan, tough pension reform that goes beyond the provisions of the Comprehensive Pension Reform Initiative and can be implemented on Day 1 of the Fletcher Administration. CPR Plus will save the city millions of dollars annually, end the six-figure pensions for unrepresented city management and ensure the management team in the Fletcher administration leads by example.
“In the Marine Corps, the commanding officer sets the culture for the entire organization. They lead by example, never asking of someone else something they are not willing to do themselves. As Mayor, I will bring that same type of leadership and accountability to City Hall,” said Fletcher. “Comprehensive Pension Reform is an important first step, but CPR Plus goes even further. It will ensure city leaders are held to the same standard as everyone else. Under the Fletcher Administration, six-figure pensions will be a thing of the past. I will ask my team to sacrifice to rebuild our city.”
CPR Plus can be implemented even while the Comprehensive Pension Reform is litigated in court. It will affect the top wage earners and give the city immediate savings that can be realized without labor negotiations, court hearings, or contentious public fights.
- Rapid implementation of CPR: Place all new management employees into a defined contribution pension plan immediately, before Comprehensive Pension Reform is implemented for non-management employees.
- End six-figure pension payouts with a hard cap: As Mayor, Fletcher will ask the Council to cap the pensionable pay of management employees at $99,999. Any compensation earned above that would not be pensionable.
- Cut management compensation by 10 percent: Reduce management compensation by 10% and prohibit increases to base compensation for the next five years. Savings: at least $6.4 million a year.
- End overtime abuse: The Fletcher administration will end overtime abuse that leads to unnecessarily high compensation costs to taxpayers.
The full plan can be downloaded here.