"The real shockers, however, are in the individual examples.On the Transparent California website, click on “All Pensions – 2012” and view the results.
Three retired public servants collected pensions of over $500,000!
Try your hand at Excel – click on “Download all Pension data for 2012” and sort by amount.
The $200,000 pension club now has a respectable showing at 582 members.
And the much vaunted $100,000 “pension club” now has 31,527 members.
But why stop there?
The maximum Social Security benefit is currently a whopping $31,704 per year.
For that you have to work until you’re 67 years old, and contribute 12.4% of your total compensation – presumably for over 40 years.
How many retired state and local government workers – that we know of – collect twice that much? Transparent California’s data shows 140,461 retirees collecting $63,408 or more in pensions during 2012.
Since the “average service life” of a government pensioner is 20 years, very few worked 40 years before retiring."
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