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On top of that, retired El Monte employees receive annual cost of living increases at the high end of what Cal PERS allows: up to 4% for police retirees and 5% for civilians, depending on inflation.
Most Cal PERS pension recipients receive increases of 2% annually.
Bonnie Jimenez, a former El Monte city councilwoman who voted for the plan in 2000, said in a recent interview that she was “flabbergasted” to learn how much Johanson is collecting.“It wasn’t explained to us that we would be paying so much in the future, or that some people would be making more in retirement than when they were working,” Jimenez said. Johanson signed a trust agreement with Union Bank to manage the assets of El Monte’s supplemental pension plan.The plan was overseen by Public Agency Retirement Services of Newport Beach.So they pitched the city council on the supplemental plan.
It would boost civilians’ retirement checks by 50% and put their pensions nearly on a par with police.
El Monte has a history of generous employee benefits — including a four-day work week for civil servants, who put in 10 hours a day and have Fridays off.