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Nearly 5,000 California Gov. Retirees Earning $100K+ a Year From CalPERS

May 4, 2009

Rob Kuznia--HispanicBusiness.com

high pensions, calpers payouts, california retirees



As cash-strapped California grapples with a historic budget deficit, a new database is revealing which government employees from that state are receiving six-figure salaries in retirement.

The site, recently posted by the California Foundation for Fiscal Responsibility, shows that 4,818 retired California government workers receive annual pension payments of at least $100,000. The site allows users to easily ascertain the names of every government employee earning six-figure retirements.

Revealingly, nearly 50 employees on the list worked in the City of Vallejo, which a year ago became the largest city in California to ever file for bankruptcy. Many of those employees were police officers and firefighters.

By comparison, only 19 government employees were drawing this kind of retirement income in the similarly sized city of Fairfield, which, like Vallejo, has a population of a little more than 100,000.

Vacaville -- a city of 88,000 that, like Vallejo and Fairview, is located in Solano County – had just nine retirees in the $100,000 club.

California government retirement benefits are administered by The California Public Employees' Retirement System (CalPERS).

The foundation created the database using records it obtained from the state with a Freedom of Information Act request.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: HispanicBusiness.com (c) 2009. All rights reserved.


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