Transparent California - Pension payouts

[Mr Anabolic]

 
 
Totally mind blowing.  How in the fuck are these payouts sustainable?

Go to the website and keep looking.  There are at least 200 people making about $500K per year and many more than that making $300-400K/yr.  Just a few copy and pastes here...

Robyn Gordon Peterson
(See note)  Pension: Long Beach Public Transportation Company Salaried Employees' Retirement Plan, $1,195,335.99

Daniel R Mccarthy
(See note)  Title: ASSISTANT CHIEF
 Pension: Los Angeles Fire and Police Employees' Pension, $871,605.64

Greg W Gibson
(See note)  Title: BATTALION CHIEF
 Pension: Los Angeles Fire and Police Employees' Pension, $871,371.72

Richard A Webb
(See note)  Title: COMMANDER
 Pension: Los Angeles Fire and Police Employees' Pension, $846,196.04

Joseph H Klein
(See note)  Title: BATTALION CHIEF
 Pension: Los Angeles Fire and Police Employees' Pension,  $830,943.40

http://transparentcalifornia.com/pensions/all/?page=1

[viking1]

Good for them

[Mr Anabolic]

Good for them

Bad for you.

[TuHolmes]

Is that per year or the total amount of their retirement account?

[viking1]

Something is off in those numbers.

Retired Sheriffs/Chiefs are earning in the 200K range for their pensions.

[Mr Anabolic]

Is that per year or the total amount of their retirement account?

That is what they receive per year.

[TuHolmes]

That is what they receive per year.

That's not what it says.

It says that's their total pension and benefits amount.

That means that's all the money in their pension fund.

That's all the money they get until the day they die.



*edit*

I went back on my PC and saw that it did say per year on a button.

That's a lot of money a year.

Pensions are usually a 33% of the 3 highest years value. So the high numbers have to be some kind of one lump payout on the entire account.

Seems like a lot but I bet they are living off of that until they die.

[sancho ed]

Cant be.....obama makes under half million a yr....,.that has to be total for life, not per yr.

[TuHolmes]

Click the "Notes".

It says "Pension is a lump sum payout" or "One Time DROP payment" right there.

After the lump sum, there's nothing else to be paid. and the drop payment means they got a huge chuck (750K in one I saw) one time and the pension for the rest of their lives is 13.5K.