California's pensions are insane. 21,862 public em
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Posted On: 03/16/2017 9:06:50 AM
California's pensions are insane. 21,862 public employee retirees at CalPERS who pulled-down a pension of $100,000 or more.
No one has hit the pension jackpot quite like the sworn officers of the California Highway Patrol (CHP). Of the 1,066 six-figure retirees, their average pension is $10,192 per month or $122,304 annually.
On top of that, there are the 6,350 active employees at CHP averaging $115,000 in pay with taxpayers chipping in another $48,300 in pension contributions. Therefore, each officer costs $163,000 in pay and pension costs alone.
Meanwhile, Riverside County has 461 six-figure retirees and the top 12 retirements each exceed $200,000 per year. Last year, the assistant sheriff made $653,025 by cashing in banks of unused benefits, i.e. leave.
We discovered a ‘$1 Million General Manager’ position at the Los Angeles Sanitary District (LASD). In 2007, LASD General Manager James Stahl retired on a pension of $303,420. His replacement, Stephen Maguin, retired on a pension of $345,408 in 2012. Today, the new ‘General Manager’ earns a salary of $336,972. So it takes $1 million to fund a general manager position where there’s two retirees and only one is working!
https://www.forbes.com/sites/adamandrzejewski...1a4cc93945
No one has hit the pension jackpot quite like the sworn officers of the California Highway Patrol (CHP). Of the 1,066 six-figure retirees, their average pension is $10,192 per month or $122,304 annually.
On top of that, there are the 6,350 active employees at CHP averaging $115,000 in pay with taxpayers chipping in another $48,300 in pension contributions. Therefore, each officer costs $163,000 in pay and pension costs alone.
Meanwhile, Riverside County has 461 six-figure retirees and the top 12 retirements each exceed $200,000 per year. Last year, the assistant sheriff made $653,025 by cashing in banks of unused benefits, i.e. leave.
We discovered a ‘$1 Million General Manager’ position at the Los Angeles Sanitary District (LASD). In 2007, LASD General Manager James Stahl retired on a pension of $303,420. His replacement, Stephen Maguin, retired on a pension of $345,408 in 2012. Today, the new ‘General Manager’ earns a salary of $336,972. So it takes $1 million to fund a general manager position where there’s two retirees and only one is working!
https://www.forbes.com/sites/adamandrzejewski...1a4cc93945
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