Santa Cruz cops to contribute more to pensions

April 27, 2011 9:02:08 AM PDT
Police officers in Santa Cruz have agreed to help the city with its budget deficit by contributing 20 percent of their pay to the cost of their pensions.

The officers have also agreed to cut their retirement plan as part of a two-year contract extension that will save the city $3 million through July 2013.

The San Jose Mercury News reports the police officers association overwhelming ratified the agreement with the City Council.

Officers have been paying 9 percent of their salaries toward pension. The new agreement also calls for new officers to be eligible for retirement at 55. Current officers can retire at 50.