More dangerous than Ebola-----CalPERS’ $100K club increases 900%

CalPERS’ $100K club increases 900% | CalWatchDog:
The Register reported:

Back in 2005, some 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public Employees’ Retirement System.

By 2009, this so-called “$100K club” had more than tripled, to 6,133 members.

And by the end of 2013, membership had nearly tripled again, to 16,838, according to data from CalPERS.

We’re talking growth in excess of 900 percent in just eight years, and no one expects the $100K club to stop growing any time soon.

This may give Joe Citizen an idea of why public pensions threaten to be an albatross around the necks of California governments (and, by extension, the necks of Joe Citizens themselves) – and why the question of whether public pension formulas are set in stone, or can be reduced, is so bitterly debated.

“The $100K club – it’s just not sustainable,” said San Jose Mayor Chuck Reed, a Democrat fighting to get a pension reform initiative on the 2016 ballot.