Posted on 04/15/2024 4:39:02 PM PDT by artichokegrower
California is expected to spend about $8.7 billion on state worker pensions next year. Gov. Gavin Newsom wants to offset some of that cost by repurposing a previously scheduled debt payment.
More generous-than-expected raises for California state workers are nudging up the cost of public employee pensions, according to the California Public Employees’ Retirement System.
(Excerpt) Read more at calmatters.org ...
Not to pick on one person but here is an example
MIGUEL ROSARIO Title: POLICE CAPTAIN Employer: City of San Diego Pension: San Diego City Employees Retirement System (SDCERS) $785,679.19
Almost 800 grand a year pension. Where do you get that in the private sector
Must be nice to be a governor in a one party state.
Makes all those laws and regulations just nuisances for the other party to follow.
Many rank and file cops out of CA take in $7000 PER MONTH.☺
Have been waiting a long time for this to catch up with them.. Had some friends and relatives who cashed in on the CA “retire early” at a huge % of their highest salary at age 55...been a long time since that happened so I may not be recalling it exactly but the friends and relatives made out like bandits. Made more money sitting home, drawing the pension, buying/selling stocks on Etrade than they made on their job...and BRAGGED about it to us poor slobs who worked for private enterprise and had no such offers...but we paid dearly for their retirement. Not for long as we left the state....
I know of a cop from CA who retired, moved to Kentucky, and bought a 32 acre estate, 4000 sq foot home, with a lake, dock and all the toys...lol
In the Kalifornia Constitution, even if the CalPers system goes broke, they have to pay the Pensions out of the general fund. The State Employees Union / SEIU owns every democRAT, so it will be quite a while before the entire system goes belly up. I continue to wonder if there will be small Atlas Shrugged situations in certain States.
Unsustainable.
Did any California public employee loose their job during COVID. Many are still working remotely from home
Like physics and economics, reality eventually dominates.
And it won’t be pleasant.
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