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SACRAMENTO— Lucky, lucky California! Today, Governor Brown announced a new budget! He was ‘off’ $16 billion on his last budget. But this time, yes this time, he’s sure he’s got it right! According to Brown, “You can never get it quite right…” No governor, YOU never got even close.
He’s going to cut, cut, cut. And tax, tax, tax. He’s sure that’ll bring more jobs here!
But Governor, why no mention of unsustainable California public pensions that keep digging the hole deeper?
Taxpayers United of America (TUA) and Free and Equal (F&E) today revealed government employee pensions for the Sacramento area. California is the 13th state in a nationwide tour for the two organizations.
“Many government retirees make more in pension payments than private sector taxpayers make in salaries,” stated Christina Tobin, TUA Vice President and Founder and Chair of Free And Equal. “The California economy and the public pension systems are in serious trouble. Taxpayers struggle to save for their own retirement and fund the public pension system. Government retirees should be concerned that their pension payments will continue.”
Tobin continued, “For example, Rickey Martinez, retired Sacramento government employee, collects an annual pension of $210,618. His estimated lifetime payout is $9,477,788. * ”
“Mary M. Carrillo Mejia, retired government teacher, has an annual pension of $195,305, with an estimated lifetime payout of $7,997,727.* ”
“Retired Sacramento County government employee, David Lind, has a lifetime estimated payout of $7,460,967* based on his actual annual pension of $192,790.”
View pension amounts below:
- California State Assembly Top 20
- Sacramento County Gov Employees Top 100
- Sacramento County Gov Teachers Top 100
- University of California Top 100
- Sacramento Top 100 SCERS
- Sacramento Top 100 CALPERS
“California’s government pension systems are crushing middle class Californians. Replacing defined benefit pensions for all new government hires with social security and 401(k)s would eventually eliminate unfunded government pensions. If current government employees would just increase their pension contributions, they would preserve their pension benefits. We need a stable system that is fair to both taxpayers and beneficiaries or pension checks will stop coming.” Tobin will be attending Thursday’s Pacific Research Institute event that will examine public pensions.
“The pension crisis is the number one budgetary problem for cities, counties and states across the country. A nationwide movement is under way to shift the dialogue to action. We are collaborating with the leaders of pension reform, in working to avert the collapse that will result from inaction. We will be launching our nationwide database for pension and electoral reform in the coming days. This online database will provide a repository of information on elections: the names, the money and the agendas.”
“Many politicians lack the courage to do what’s in the best interest of taxpayers. The many pension groups that have formed, are working to help enhance the citizens’ groundswell that wants true electoral reform.”
*TUA submits FOIA requests for actual pensions. Since personal information is not available, lifetime pension payouts are estimated based on retirement at 55, life expectancy of 85 (IRS Form 590), and 3% COLA.
Can you believe this???? Look a the the lifetime payouts!!!! All guaranteed by the taxpayer with ZERO investment risk. Good luck duplicating that int he private sector.
I agree. However, please make sure that you are specific about which government. workers you are talking about. I am assuming you are talking about managers and that this is specific to management workers and their overhead. I put 15 years, I’m 55 and had a stroke. I cannot afford to retire and would have no health insurance as a retiree. Government employees have different union contracts. Thanks 🙂