{"id":1859,"date":"2019-11-08T09:30:15","date_gmt":"2019-11-08T16:30:15","guid":{"rendered":"https:\/\/sandiegonewsdesk.com\/?p=1859"},"modified":"2020-01-22T15:42:32","modified_gmt":"2020-01-22T22:42:32","slug":"nearly-80000-california-retirees-are-receiving-100000-or-more-in-pension-pay-new-data-show","status":"publish","type":"post","link":"https:\/\/sandiegonewsdesk.com\/?p=1859","title":{"rendered":"Nearly 80,000 California Retirees are Receiving $100,000 or More in Pension Pay, New Data Show"},"content":{"rendered":"

Written by Richard Rider, Chairman of San Diego Tax Fighters<\/em><\/p>\n

Six-figure California “public servant” pensions are becoming the new norm in the Golden State. The number of CA state and local public employees now receiving such retirement income is now 80,000 and rising.<\/p>\n

The rate of GROWTH of such pensions is breathtaking.\u00a0Since 2013, the number of $100,000+ CA pensions has grown 85%, with similar growth projected in future years.<\/b><\/p>\n

That\u2019s according to an analysis of 2018 pension payout data posted on Transparent California \u2014 the state\u2019s largest public pay and pension database.<\/p>\n

Those receiving pension payouts of at least $100,000 accounted for nearly 20 percent of the $51.7 billion total payments made last year, which is also an all-time high, according to the data.<\/p>\n

\u201cThe only reason public pensions are an issue of public concern is because of the costs they impose on taxpayers,\u201d explained Transparent California Executive Director Robert Fellner.<\/p>\n

\u201cThe data show that one out of every five dollars paid out by California\u2019s public pension funds last year went to someone who is drawing an annual pension of at least $100,000,\u201d Fellner said.<\/p>\n

Data from the US Census Bureau reveals a similar explosion in taxpayer costs, which hit an all-time high of $39.3 billion last year, more than double the amount spent in 2013.<\/p>\n

\u201cGuaranteed, lifetime annual pensions of over $100,000 are quite expensive, as the soaring cost to taxpayers in recent years makes quite clear,\u201d Fellner concluded.<\/p>\n

The number of retirees receiving annualized pensions of at least $100,000 at the Kern County pension fund increased 21 percent from 2017 to 2018, the biggest year-over-year increase of any pension fund statewide, as shown in the below table:<\/p>\n\n\n\n\n\n\n\n\n
\n
Pension Fund<\/strong><\/div>\n<\/td>\n
Increase in $100K+ pensions from 2017 \u2013 2018<\/strong><\/td>\n<\/tr>\n
\n
Kern County Employees\u2019 Retirement Association<\/div>\n<\/td>\n
21%<\/td>\n<\/tr>\n
\n
Los Angeles Fire and Police Employees\u2019 Pension<\/div>\n<\/td>\n
20%<\/td>\n<\/tr>\n
\n
Los Angeles County Pension<\/div>\n<\/td>\n
19%<\/td>\n<\/tr>\n
Fresno County Employees\u2019 Retirement Association<\/td>\n\n
19%<\/div>\n<\/td>\n<\/tr>\n
San Diego City Employees\u2019 Retirement System<\/td>\n\n
16%<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Nearly half of all California cities face a \u201chigh risk\u201d of fiscal distress due to rising pension costs, according to\u00a0a recent analysis from the California State Auditor.<\/a><\/span><\/p>\n

\u201cRising pension costs will force working class Californians to pay higher taxes, while receiving fewer public services,\u201d Fellner explained.<\/span><\/p>\n

To see a complete list of the more than 1.2 million pension checks issued last year, please\u00a0click here<\/a>. To view the data by individual pension fund, please\u00a0click here.<\/a> <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Written by Richard Rider, Chairman of San Diego Tax Fighters Six-figure California “public servant” pensions are becoming the new norm in the Golden State. The number of CA state and local public employees now receiving such retirement income is now 80,000 and rising. The rate of GROWTH of such pensions is breathtaking.\u00a0Since 2013, the number…<\/p>\n","protected":false},"author":3,"featured_media":1863,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion"],"yoast_head":"\nNearly 80,000 California Retirees are Receiving $100,000 or More in Pension Pay, New Data Show - San Diego News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandiegonewsdesk.com\/?p=1859\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nearly 80,000 California Retirees are Receiving $100,000 or More in Pension Pay, New Data Show - San Diego News Desk\" \/>\n<meta property=\"og:description\" content=\"Written by Richard Rider, Chairman of San Diego Tax Fighters Six-figure California “public servant” pensions are becoming the new norm in the Golden State. 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