Beverly Hills Will Make Millionaires of Even its Most Humble City Workers Thanks to Rich Pension Benefits
Sometimes the stereotypes about Beverly Hills are overblown, and once you go south of Wilshire Boulevard it's a fairly tame if not overpriced flatland of Persian dreams.
But ... it's still a rich town, and it pays its city workers handsomely. Maybe too much so: The Beverly Hills Courier reports today that even the city's low-level employees could be millionaires by the time they die.
That's because ...
... pensions for the employees are, shall we say, quite healthy.
UCLA Bruins Women's Basketball vs. Arizona Wildcats Womens Basketball
TicketsSun., Jan. 29, 2:00pm
Anaheim Ducks v. Colorado Avalanche
TicketsTue., Jan. 31, 7:00pm
Los Angeles Lakers v Denver Nuggets - Verified Resale Tickets
TicketsTue., Jan. 31, 7:30pm
CSUN Men?s Basketball vs. Long Beach State Men's Basketball
TicketsWed., Feb. 1, 7:00pm
The paper says even a lowly street sweeper will see $1.143 million in pension benefits following retirement if she lives to average life expectancy.
Parking enforcement officer? Nearly $1.6 million.
Assistant city librarian? $3 million!
Woot-woot. Pass some of that Grey Poupon.
The Courier calculates that these folks would live to age 80 and amass 25 years of pension benefits at 85 percent of their last year's salary. The city promises inflation increases, took, so that's calculated in as well.
The big question here is: HOW THE HELL CAN WE GET A JOB WITH THE CITY OF B.H. TOO?
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Los Angeles, delivered to your inbox Monday through Friday.