While operating revenues climbed 11.5% in the last three years, its health care and pension costs rose nearly 35%. Meanwhile, worker salaries have remained roughly flat for more than three years. These expenses are also eating into money budgeted for upgrades to expand service.
OCTA changes pension plan
Beginning Jan. 1, 2014, administrative employees will contribute an average of 2% of their salaries to their pensions. That contribution will increase each year until employees are paying 100% of their employee share by Jan. 1, 2017. The plan will result in an $8.2 million savings to taxpayers over the three-year period.