April 14, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Department of Water and Power Paid Out $435 Million in Pension Benefits Last Year

The Los Angeles Department of Water and Power paid out at least $435 million in pension benefits last year, with an electrical engineer who received $363,000 topping the list, it was reported Tuesday.

Robert Fellner, a research director for the group Transparency California, which released the figures, said the numbers give an idea of the size of the costs that go into paying public employee pensions every year, the Los Angeles Daily News reported.

With the recently approved pay raises for LADWP employees to be doled out over the next five years, he said, “an exceptionally generous — and expensive — retirement plan means that the DWP’s famously above-market salaries end up costing ratepayers twice.”

LADWP officials disputed the idea that retirement costs in the future will continue to be high, saying the utility’s “pension system was substantially reformed in 2013 and the changes are estimated to save ratepayers approximately $5 billion over 30 years,” the Daily News reported.

“New employees hired since January 2014 are part of a pension system with a higher retirement age, reduced retirement formula, increased employee contribution rate, increased time needed to vest, and elimination of the DWP matching employee contributions, as well as suspended reciprocity with the City of Los Angeles,” the utility said in a statement cited by the Daily News.

“This pension reform will save ratepayers as LADWP’s rapidly aging workforce retires and new employees are hired.”

Nearly 25 percent of the workforce is now under this new plan, utility officials said, according to the Daily News.

The data released by Transparent California shows pension dollar figures and other details for more than 7,300 former LADWP employees, and it is the first time such information has been made public, according to Fellner.

“The fact is, I just never thought they’d give it to us,” Fellner told the Daily News. Transparent California has been requesting the data since 2013, and it was unclear why the LADWP finally decided to release the 2016 pension information this year, he said.

Related Posts

Registration Now Open for Summer at New Roads

April 12, 2024

April 12, 2024

New Roads School is accepting registration for its summer program, a vibrant selection of classes and camps curated to meet...

CodeREV Inspires Kids to Code

April 12, 2024

April 12, 2024

Budding coders, robotics engineers, game developers, animators and STEM campers are invited to join CodeREV this summer for a memorable...

YMCA Santa Monica: When School Is Out, Camp Is In

April 12, 2024

April 12, 2024

As the Santa Monica-Malibu Unified School District nears its end,  YMCA Santa Monica is setting up for its popular Summer...

Top 4 Party Boat Rentals in San Diego

April 12, 2024

April 12, 2024

Here’s a rundown of the top 4 party boat rentals that will elevate any event to an unforgettable experience: Alana...

Accents Owner Steven Hanna Reflects on Decades Long Legacy

April 12, 2024

April 12, 2024

For 37 years, Accents Jewelry has transcended mere commerce, evolving into a vibrant community, a crucible of creativity, and a...

Discover the Untold Story of Folk-Rock Icon Judee Sill in “Lost Angel” Documentary

April 12, 2024

April 12, 2024

Directors Share Insights into the Life and Legacy of the Enigmatic Musician By Dolores Quintana Have you ever heard of...

O.J. Simpson, Infamous Football Star Accused of Murder, Dies at 76

April 12, 2024

April 12, 2024

Controversial Figure Succumbs to Cancer Shortly After Diagnosis Orenthal James Simpson, a former football player who is best known for...

Lyft Driver Faces Felony Sexual Assault Charges, Passenger Was Traveling Between Weho and Santa Monica

April 11, 2024

April 11, 2024

District Attorney Files Charges Following Allegations by Female Passenger On April 10, Los Angeles County District Attorney George Gascón announced...

Los Angeles General Medical Center Seeks Public’s Help to Identify Patient Found in West LA

April 11, 2024

April 11, 2024

Hospital Appeals for Assistance in Reuniting Unknown Patient with Family The Los Angeles General Medical Center, a public hospital operated...

Get Jokerfied with The People’s Joker Director Vera Drew’s Interview; Film Opens on Friday

April 11, 2024

April 11, 2024

Vera Drew on Crafting a Trans Supervillain and Creating Comedy Chaos By Dolores Quintana The People’s Joker is an explosive...

(Video) The New Menu Experience at Cassia Restaurant in Santa Monica is Delicious

April 11, 2024

April 11, 2024

The Southeast Asian dishes satisfy. Friendly ambiance, flavorful food, subtle cocktails, beer and wine, and scrumptious desserts. @culvercitywlanews The New...

Woman Shares Apocalyptic Messages On Social Media Before Woodland Hills/Culver City Murder-Suicide

April 10, 2024

April 10, 2024

Social Media Posts Precede Tragic Events at Family’s Home and on the 405 Freeway Reports have surfaced that a 34-year-old...

SB 1509 Advances: Malibu Officials Rally Behind Negligent Operator Treatment Bill

April 10, 2024

April 10, 2024

Senator Stern’s Legislation Gains Momentum in Effort to Curb Reckless Driving SB 1509, the Negligent Operator Treatment bill spearheaded by...

Now Enrolling: St. Matthew’s Summer Enrichment Program

April 10, 2024

April 10, 2024

Discover the magic of St. Matthew’s Parish School through their Summer Enrichment Program, offering a timeless summer camp experience infused...

Rolling Robots Camp is a ‘Tech Genius Program’

April 9, 2024

April 9, 2024

Roll out the .. robots.  An afterschool learning center for robotics and STEM is hosting weekly camps this summer designed...