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.
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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?
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