Wednesday, June 3, 2009

California's Generous Pensions

As the state of California has already fallen into the abyss of financial collapse, and its primary state pension managers are getting annihilated (less so after the squeeze of the past 3 months, but definitely in their PE investments), a backlash has formed against those receiving generous lifetime pensions by CalPERS and CalSTRS.

The following websites list out the 5,115 people that receive over $100,000 in California pensions compliments of CalPERS and CalSTRS. At least now taxpayers know who gets to benefit and not see their pensions reduced (or cut off) thanks to the market's (and unemployment's) relentless march higher, feeding CalPERS with a few extra bucks to spend on various pensions. Sphere: Related Content
Print this post
blog comments powered by Disqus