Monday, October 06, 2014

Transparent California: Average annual California gov’t employee pension was $64,448 last year

Transparent California: Average annual California gov’t employee pension was $64,448 last year - EAGnews.org:
"SACRAMENTO, Calif. – CalPERS financial struggles are draining state taxpayers.
The ever-increasing contribution rates it demands from state and local governments have already bankrupted several cities.

......The U.S. Census reports that the median household income in California is $61,400. This includes households where two adults are working full-time. The data on Transparent California though shows that the average 2013 pension for those who worked 30 years or more and received a full year’s pension was $64,448 for the year.
For those who retired in 2000 or later, the average pension was $68,403."

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