Financial details of Fate’s retirement benefits package
Claremont Police Chief Aaron Fate, seen here taking the oath of office in 2021, is retiring April 1. Courier file photo
by Andrew Alonzo | aalonzo@claremont-courier.com
Earlier this month, the City of Claremont announced Police Chief Aaron Fate would be retiring April 1. Fate’s estimated monthly pension in retirement will be $17,071, or $204,852 annually.
We asked Claremont City Manager Adam Pirrie for details about the 26-year CPD officer’s retirement package.
“Upon Separation, Chief Fate will be entitled to a pension through the California Public Employees Retirement System (CalPERS),” Pirrie wrote in an email. “The amount of his pension will depend on his years of service and final compensation.”
Fate’s current total monthly salary is $21,886.
“The pension formula that applies to Chief Fate, as a ‘classic’ (hired prior to 1/1/2013) public safety employee is 3% @ [age] 50,” Pirrie wrote. “This means he is eligible to receive 3% of his annual final compensation for every year of service. The exact amount of his pension payments under this formula will be determined by CalPERS.”
The CalPERS formula considers years of employment, the “benefit factor” or the percentage of final compensation for each year of service, and final monthly compensation, which is based on the highest annual compensation during any consecutive 12- or 36-month period.
Using this formula, Fate’s estimated monthly pension will be $17,071, or $204,852 annually. The retirement package does not include medical insurance.
“While many cities offer retiree medical coverage, Claremont does not,” Pirrie wrote. “Chief Fate would be eligible to continue participation in the City’s medical insurance plans, but at his own cost. Finally, any employee separating from the City is eligible to receive a payout of accrued vacation, administrative leave and floating holiday hours at their current hourly rate.”
Fate began his CPD career in 1999. He was named chief of police in 2021, replacing Shelly Vander Veen.
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