On The Other Hand...Number Of Pensioners Making Six Figures Growing Fast
Earlier we made the point that most California retired public workers aren't raking it in. As noted by Timm Herdt, of the nearly half million California retired public workers, 78 percent receive less than $3,000 per month, and the average is $2,188.
But newsrooms are collaborative places, and a colleague throws over a helpful Informer post demonstrating the counterpoint: The rise of the six-figure pensioner.
Statewide membership in 2006 of pensioners making six figures, not included highly paid judges, was at 1,700; in 2009 membership jumped to 4,878 people; today it's at 7,832 members.
Though growing quickly and not something that can be ignored, you can see how, given the nearly half million retired public employees in CalPERS, those numbers are fairly small in the overall scheme of things.
The problem is that many public employees currently near retirement have locked-in deals that will have that six-figure club skyrocketing and causing all kinds of budget headaches in the relatively near future. The City Council is currently studying potential changes to the pension system for new employees to ease future liabilities. But note the key word: New employees.