Thursday, 4:25 p.m. -- The Detroit Free Press reports that trustees of Detroit’s Police and Fire Retirement System voted today to rescind the pay raises for three staff members, who Board Chairman Chairman Matt Gnatek said were grossly underpaid. He said the hikes were designed to retain quality people.
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At a time when some City of Detroit workers see their pay reduced or their jobs disappear, three top employees of the municipal police and fire retirement system get raises of 40 to 55 percent, Roger Weber reports at WDIV.
Its investment analyst's pay was bumped from $120,000 a year to $185,000. The pensions executive director saw her pay boosted from $85,600 to $120,000. Finally, the executive director's assistant's pay increased from just more than $74,000 to $115,000.
The salaries are paid from pension funds, not Detroit's general fund.
The approval process Jan. 24 seems unusual, tipsters told Weber:
According to two well-placed sources, the pay raises were not on the agenda at last Thursday's meeting. When four board members left near the end of the meeting other board members pushed for a vote.
They rejected a motion to table the issue until the other board members were there. The hefty pay raises passed on a 7-4 vote.
The decision may be reopened at a meeting today (Thursday), the WDIV correspondent adds.
