The City of Coral Gables as an “International Organization”
August 23, 2010 Leave a comment
The more I learn about employees’ benefits at the City of Coral Gables it seems to be an international organization like the World Bank, the UN or the Inter-American Development Bank with their independent sources of income, back-up capital contributions from sovereign governments and stable income and reserves to cover their operating costs. Please note that these international organizations have often been accused by the US Congress of paying salaries and other benefits that are outlandish, disproportionate and self-serving. The City of Coral Gables seems not unlike the accused organizations.
The City of Coral Gables pays better pensions, medical insurance and salaries similar to the above mentioned international organizations. In the multilateral organizations employees pay 10% of their salaries into pensions funds, pay about 50% of their medical insurance, international (non-US employees) employees get education allowances similar to those paid by Coral Gables, employees receive merit increases and inflation adjusted incomes (the adjustment now would be 1% or less) and they follow the rule of 85 for retirement (rather than the rule of 70 of Coral Gables) for retirement eligibility. They do not get many other benefits received by Coral Gables employees such as loyalty pay adjustments.
In short, Coral Gables provides better or equivalents benefits and salaries than many international employees for similar types of work.