Blog Post < Previous | Next >
wiki.commons
Full-career Bay Area City retirees earn 40% more than working resident's average salary
Full-career Bay Area City retirees earn 40% more than local working resident's average salary.
October 6, 2015 October 6, 2015 2015, Press Releases For Immediate Release
Contact Robert Fellner, 559-462-0122, 201-206-6469 (cell)
Full-career retirees from the cities of Oakland, Fremont and Hayward received an average $83,464 CalPERS pension last year, nearly 40% higher than the annual wages of full-time workers in the same area, according to just-released 2014 pension payout data from TransparentCalifornia.com. Full-career police and fire retirees took home an average pension of $107,392.
The over 600,000 records — obtained through a series of public records requests to the California Public Employees’ Retirement System (CalPERS) — reveals that Bay Area agencies dominated the list of highest CalPERS pensions statewide, with former Solano County administrator Michael D Johnson’s $375,990 pension topping the list.For miscellaneous retirees — which includes all non-safety employees — Bay Area agencies comprised five of the top 10 agencies with the highest average full-career pensions statewide, with Mountain View City and the Santa Clara Valley Water District placing 2nd and 3rd with averages of $111,884 and $103,296, respectively.
The cities of Milpitas, Union City, Vacaville and Walnut Creek all had average full-career pensions for safety retirees of over $119,000, placing them in the top 10 of CalPERS agencies statewide.
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” said Robert Fellner, research director for Transparent California.
Such exorbitant benefits are the reason pension contributions are skyrocketing, Fellner said.
“Retirement costs are directly related to the generosity of the benefits promised, and unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them.”
After Michael Johnson, the next 3 largest CalPERS payouts to Bay Area retirees went to:
- Kevin C Duggan, former Mountain View City manager: $265,823,
- David E Marshall, former correctional sergeant for the County of Santa Clara: $265,308, and
- Philip H Kamlarz, former Berkeley City manager: $256,514.
Average full-career CalPERS pensions for Bay Area employers
Fellner noted that the median contribution rate for the 10 largest Bay Area agencies — 25 percent for miscellaneous and 42 percent for safety employees — is significantly higher than the 6.3 percent that private employers pay for their employees’ retirement benefits, according to the Bureau of Labor and Statistics.
Fellner warned that, “As high as the current rates are, CalPERS is projecting significant rate hikes over the next few years, which threatens to break already cash-strapped municipalities. What’s worse, weakening market conditions means rates will rise even further than anticipated.”
Statewide
The 2014 report contained 19,728 recipients with a monthly allowance of $8,333.34 or more — representing an annualized benefit of at least $100,000 — a nearly 35% increase from 2012’s report.
The average pension for full-career miscellaneous and safety CalPERS retirees was $65,148 and $85,724, respectively.
The top three 2014 CalPERS pension payouts went to:
- Michael D Johnson, former Solano County administrator: $375,990,
- Joaquin Fuster, UCLA retiree: $325,278, and
- Donald Gerth, former Cal State at Sacramento president: $305,002.
The top 10 CalPERS agencies with the highest average pensions reveals retirement income that can more than double the earnings of full-time, working residents:
10 largest average full-career non-safety CalPERS pensions by employer
10 largest average full-career safety CalPERS pensions by employer
A full-career for miscellaneous retirees is defined as at least 35 years of service, the minimum required to qualify for Social Security benefits without penalty, while a full-career for safety employees is defined as 30 years or more.
Despite accounting for only 11 percent of service retirees, it is necessary to look at full-career pensions to accurately gauge the system, according to Fellner.
“Just as one assumes a 40-hour work week when comparing salaries, any discussion of pensions implicitly assumes a full-career.
“Furthermore, the disproportionally greater pensions for those who work a full-career reveal an inequity within CalPERS. Part of the generosity of the full-career benefits comes at the expense of partial-career retirees, who receive disproportionally smaller benefits.”
Fellner concluded, “With retirement costs expanding to as much as ten times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
To view the entire dataset in a searchable and downloadable format, visit TransparentCalifornia.com.
To schedule an interview with Transparent California, please contact Robert Fellner at 559-462-0122 or Robert@TransparentCalifornia.com.
Transparent California is California’s largest and most comprehensive database of public sector compensation and is a project the Nevada Policy Research Institute, a nonpartisan, free-market think tank. Learn more at TransparentCalifornia.com.
Full-career Orange County city retirees earn 54% more than residents’ average salary
October 6, 2015 October 5, 2015 2015, Press ReleasesFor Immediate Release
Contact Robert Fellner, 559-462-0122, 201-206-6469 (cell)
Full-career retirees from Orange County municipalities received an average CalPERS pension 54 percent greater than the average salary of area residents, according to just-released 2014 pension payout data fromTransparentCalifornia.com. Full-career police and fire retirees took home pensions worth nearly double the average salary.
The over 600,000 records — obtained through a series of public records requests to the California Public Employees’ Retirement System (CalPERS) — reveals an average full-career pension of $81,372 for miscellaneous, which includes all non-safety retirees, and $99,366 for safety retirees of all Orange County cities enrolled in CalPERS.
By contrast, the average annual salary in Orange County was $53,010 last year, according to the Bureau of Labor and Statistics.
The 3 largest CalPERS payouts to Orange County retirees went to:
- David N Ream, former Santa Ana City manager: $277,194,
- John J Schatz, former Santa Margarita Water District general manager: $270,613, and
- Thomas J Wood, former Anaheim City manager: $248,914.
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” said Robert Fellner research director for Transparent California.
Fellner says that such exorbitant benefits are the reason pension contributions are skyrocketing, adding that, “Retirement costs are directly related to the generosity of the benefits promised and, unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them.”
Average full-career CalPERS pensions for Orange County cities
Fellner noted that the median contribution rate for Orange County cities — 25 percent for miscellaneous and 42 percent for safety employees — is significantly higher than the 6.3 percent that private employers pay for their employees’ retirement benefits, according to the Bureau of Labor and Statistics.
Fellner warned that, “As high as the current rates are, CalPERS is projecting significant rate hikes over the next few years, which threatens to break already cash-strapped municipalities. What’s worse, weakening market conditions means rates will rise even further than anticipated.”
Statewide
The 2014 report contained 19,728 recipients with a monthly allowance of $8,333.34 or more — representing an annualized benefit of at least $100,000 — a nearly 35% increase from 2012’s report.
The average pension for full-career miscellaneous and safety CalPERS retirees was $65,148 and $85,724, respectively.
The top three 2014 CalPERS pension payouts went to:
- Michael D Johnson, former Solano County administrator: $375,990,
- Joaquin Fuster, UCLA retiree: $325,278, and
- Donald Gerth, former Cal State at Sacramento president: $305,002.
The top 10 CalPERS agencies with the highest average pensions reveals retirement income that can more than double the earnings of full-time, working residents:
10 largest average full-career non-safety CalPERS pensions by employer
10 largest average full-career safety CalPERS pensions by employer
A full-career for miscellaneous retirees is defined as at least 35 years of service, the minimum required to qualify for Social Security benefits without penalty, while a full-career for safety employees is defined as 30 years or more.
Despite accounting for only 11 percent of service retirees, it is necessary to look at full-career pensions to accurately gauge the system, according to Fellner.
“Just as one assumes a 40-hour work week when comparing salaries, any discussion of pensions implicitly assumes a full-career.
“Furthermore, the disproportionally greater pensions for those who work a full-career reveal an inequity within CalPERS. Part of the generosity of the full-career benefits comes at the expense of partial-career retirees, who receive disproportionally smaller benefits.”
Fellner concluded,“With retirement costs expanding to as much as ten times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
To view the entire dataset in a searchable and downloadable format, visit TransparentCalifornia.com.
To schedule an interview with Transparent California, please contact Robert Fellner at 559-462-0122 or Robert@TransparentCalifornia.com.
Transparent California is California’s largest and most comprehensive database of public sector compensation and is a project the Nevada Policy Research Institute, a nonpartisan, free-market think tank. Learn more at TransparentCalifornia.com.
Full-career San Diego-area city retirees earn 59% more than residents’ average salary
October 6, 2015 October 5, 2015 2015, Press ReleasesSan Diego County’s full-career municipal retirees received an average $84,145 CalPERS pension last year, according to just-released 2014 pension payout data from TransparentCalifornia.com.
The over 600,000 records — obtained through a series of public records requests to the California Public Employees’ Retirement System (CalPERS) — reveals that the cities of Carlsbad and Chula Vista are among the top ten agencies with the highest average CalPERS non-safety pensions statewide, at $102,437 and $93,971, respectively.By contrast, the average full-time worker in the San Diego-Carlsbad-San Marcos area earned $53,020 last year, according to the Bureau of Labor and Statistics.
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” said Robert Fellner, research director for Transparent California.
Fellner noted that the atypically large pensions for miscellaneous retirees — which includes all non-safety employees — of cities in San Diego County were due to their use of a rare, but extremely generous benefit formula known as “3% @ 60.” The formula allows for a pension worth 120 percent of an employee’s highest salary after 40 years of service if retiring at age 60 or later.
In total, 68 San Diego-area miscellaneous retirees received a base pension, which excludes subsequent cost of living increases, worth at least 100 percent of their highest salary.
The 3 largest CalPERS payouts to San Diego-area retirees went to:
- William Garrett, former El Cajon City manager: $299,281,
- Vincent-Peer Hubner of Encinitas City: $264,555, and
- Paul C Malone, former San Marcos City manager: $237,922.
Such exorbitant benefits are the reason pension contributions are skyrocketing, Fellner said.
“Retirement costs are directly related to the generosity of the benefits promised, and unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them.”
Average full-career CalPERS pensions for San Diego cities
Fellner noted that the median contribution rate for the 6 largest cities in San Diego County — 28 percent for miscellaneous and 37 percent for safety employees — is significantly higher than the 6.3 percent that private employers pay for their employees’ retirement benefits, according to the Bureau of Labor and Statistics.
Fellner warned that, “As high as the current rates are, CalPERS is projecting significant rate hikes over the next few years, which threatens to break already cash-strapped municipalities. What’s worse, weakening market conditions means rates will rise even further than anticipated.”
Statewide
The 2014 report contained 19,728 recipients with a monthly allowance of $8,333.34 or more — representing an annualized benefit of at least $100,000 — a nearly 35% increase from 2012’s report.
The average pension for full-career miscellaneous and safety CalPERS retirees was $65,148 and $85,724, respectively.
The top three 2014 CalPERS pension payouts went to:
- Michael D Johnson, former Solano County administrator: $375,990,
- Joaquin Fuster, UCLA retiree: $325,278, and
- Donald Gerth, former Cal State at Sacramento president: $305,002.
The top 10 CalPERS agencies with the highest average pensions reveals retirement income that can more than double the earnings of full-time, working residents:
10 largest average full-career non-safety CalPERS pensions by employer
10 largest average full-career safety CalPERS pensions by employer
A full-career for miscellaneous retirees is defined as at least 35 years of service, the minimum required to qualify for Social Security benefits without penalty, while a full-career for safety employees is defined as 30 years or more.
Despite accounting for only 11 percent of service retirees, it is necessary to look at full-career pensions to accurately gauge the system, according to Fellner.
“Just as one assumes a 40-hour work week when comparing salaries, any discussion of pensions implicitly assumes a full-career.
“Furthermore, the disproportionally greater pensions for those who work a full-career reveal an inequitywithin CalPERS. Part of the generosity of the full-career benefits comes at the expense of partial-career retirees, who receive disproportionally smaller benefits.”
Fellner concluded, “With retirement costs expanding to as much as ten times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
To view the entire dataset in a searchable and downloadable format, visit TransparentCalifornia.com.
To schedule an interview with Transparent California, please contact Robert Fellner at 559-462-0122 or Robert@TransparentCalifornia.com.
Transparent California is California’s largest and most comprehensive database of public sector compensation and is a project the Nevada Policy Research Institute, a nonpartisan, free-market think tank. Learn more at TransparentCalifornia.com.
Full-career Los Angeles-area city retirees earn 42% more than residents’ average salary
October 6, 2015 October 6, 2015 2015, Press ReleasesFor Immediate Release
Contact Robert Fellner, 559-462-0122, 201-206-6469 (cell)
Average Los Angeles-area CalPERS payout highest statewide
Full-career retirees of Los Angeles County municipalities received an average CalPERS pension worth 42 percent more than the average salary of area workers, according to just-released 2014 pension payout data from TransparentCalifornia.com. Full-career police and fire retirees took home an average pension worth nearly twice what area residents earned last year.
The over 600,000 records — obtained through a series of public records requests to the California Public Employees’ Retirement System (CalPERS) — reveals an average full-career pension of $75,266 for miscellaneous retirees, which includes all non-safety employees, and $100,657 for safety retirees for all Los Angeles County cities enrolled in CalPERS.
By contrast, the average full-time worker in the Los Angeles area earned $53,000 last year, according to the Bureau of Labor and Statistics.
Cities in Los Angeles County had the highest average full-career pensions of any CalPERS agency statewide:
- The City of Santa Fe Springs had the highest average for non-safety retirees at $113,040.
- The City of El Segundo had the highest average for safety retirees at $124,254.
- The cities of El Monte, Santa Fe Springs, Santa Monica and Pasadena each had average safety pensions over $118,000 each, placing them in the top 10 statewide.
The 3 largest CalPERS payouts to retirees from Los Angeles County agencies went to:
- Joaquin Fuster, UCLA retiree: $325,278,
- Stephen R. Maguin, former chief engineer and GM of the Los Angeles County Sanitation Districts: $304,661, and
- James F. Stahl, former chief engineer and GM of the Los Angeles County Sanitation Districts: $291,482.
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” said Robert Fellner, research director for Transparent California.
Fellner said such exorbitant benefits are the reason pension contributions are skyrocketing, “Retirement costs are directly related to the generosity of the benefits promised, and unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them.
“The City of El Monte, for example, pays a staggering 57 percent of pay to fund average $120,653 pensions for full-career safety retirees, an amount that is nearly five times greater than the median earnings of City residents.”
Average full-career pensions for largest Los Angeles-area agencies
Fellner noted that the median contribution rate for all Los Angeles County cities — 20 percent for miscellaneous and 32 percent for safety employees — is significantly higher than the 6.3 percent that private employers pay for their employees’ retirement benefits, according to the Bureau of Labor and Statistics.
Fellner warned that, “As high as the current rates are, CalPERS is projecting significant rate hikes over the next few years, which threatens to break already cash-strapped municipalities. What’s worse, weakening market conditions means rates will rise even further than anticipated.”
Statewide
The 2014 report contained 19,728 recipients with a monthly allowance of $8,333.34 or more — representing an annualized benefit of at least $100,000 — a nearly 35% increase from 2012’s report.
The average pension for full-career miscellaneous and safety CalPERS retirees was $65,148 and $85,724, respectively.
The top three 2014 CalPERS pension payouts went to:
- Michael D Johnson, former Solano County administrator: $375,990,
- Joaquin Fuster, UCLA retiree: $325,278, and
- Donald Gerth, former Cal State at Sacramento president: $305,002.
The top 10 CalPERS agencies with the highest average pensions reveals retirement income that can more than double the earnings of full-time, working residents:
10 largest average full-career non-safety CalPERS pensions by employer
10 largest average full-career safety CalPERS pensions by employer
A full-career for miscellaneous retirees is defined as at least 35 years of service, the minimum required to qualify for Social Security benefits without penalty, while a full-career for safety employees is defined as 30 years or more.
Despite accounting for only 11 percent of service retirees, it is necessary to look at full-career pensions to accurately gauge the system, according to Fellner.
“Just as one assumes a 40-hour work week when comparing salaries, any discussion of pensions implicitly assumes a full-career.
“Furthermore, the disproportionally greater pensions for those who work a full-career reveal an inequity within CalPERS. Part of the generosity of the full-career benefits comes at the expense of partial-career retirees, who receive disproportionally smaller benefits.”
Fellner concluded, “With retirement costs expanding to as much as ten times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
To view the entire dataset in a searchable and downloadable format, visit TransparentCalifornia.com.
To schedule an interview with Transparent California, please contact Robert Fellner at 559-462-0122 or Robert@TransparentCalifornia.com.
Transparent California is California’s largest and most comprehensive database of public sector compensation and is a project the Nevada Policy Research Institute, a nonpartisan, free-market think tank. Learn more at TransparentCalifornia.com.
Average full-career CalPERS pension worth 20% more than average Californian’s salaryOctober 6, 2015 October 6, 2015 2015, Press Releases
For Immediate Release
Contact Robert Fellner, 559-462-0122, 201-206-6469 (cell)
California’s full-career retirees received an average CalPERS pension worth 20 percent more than the average Californian’s salary, according to just-released 2014 pension payout data from TransparentCalifornia.com. Full-career safety retirees took home an average pension worth 59 percent more than the average salary.
The over 600,000 records — obtained through a series of public records requests to the California Public Employees’ Retirement System (CalPERS) — reveals the average pension for full-career miscellaneous retirees, which includes all non-safety employees, and safety retirees was $65,148 and $85,724, respectively.
By contrast, the average full-time California worker earned $53,890 last year, according to the Bureau of Labor and Statistics.
The 2014 report contained 19,728 recipients receiving a monthly CalPERS check of $8,333.34 or more — representing an annualized benefit of at least $100,000 — a nearly 35% increase from 2012’s report.
The top three 2014 CalPERS pension payouts went to:
- Michael D Johnson, former Solano County administrator: $375,990,
- Joaquin Fuster, UCLA retiree: $325,278, and
- Donald Gerth, former Cal State at Sacramento president: $305,002.
Retirees from local agencies — cities, towns, special districts, etc. — earned significantly more than state retirees:
Average 2014 full-career CalPERS pension by employer type
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” said Robert Fellner research director for Transparent California.
Fellner said that such exorbitant benefits are the reason pension contributions are skyrocketing, “Retirement costs are directly related to the generosity of the benefits promised and, unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them.”
Sacramento Valley
The 3 largest CalPERS payouts to Sacramento Valley retirees went to:
- James T Eastman Jr, Sacramento Metropolitan Fire District retiree: $288,503,
- Robert J Mcdonell, Woodland City retiree: $243,020, and
- James R Shetler, former assistant general manager of the Sacramento Municipal Utility District: $226,542.
Average full-career pension for Sacramento Valley employers
Fellner noted that the median contribution for the largest Sacramento Valley agencies — 23 percent for miscellaneous and 37 percent for safety employees — is significantly higher than the 6.3 percent that private employers pay for their employees’ retirement benefits, according to the Bureau of Labor and Statistics.
Fellner warned that, “As high as the current rates are, CalPERS is projecting significant rate hikes over the next few years, which threatens to break already cash-strapped municipalities. What’s worse, weakening market conditions means rates will rise even further than anticipated.”
Statewide
The top 10 CalPERS agencies with the highest average pensions are displayed below, along with the current employer contribution rate and the median 2013 earnings for full-time, year-round workers of the respective area:
10 largest average full-career non-safety CalPERS pensions by employer
10 largest average full-career safety CalPERS pensions by employer
A full-career for miscellaneous retirees is defined as at least 35 years of service, the minimum required to qualify for Social Security benefits without penalty, while a full-career for safety employees is defined as 30 years or more.
Despite accounting for only 11 percent of service retirees, it is necessary to look at full-career pensions to accurately gauge the system, according to Fellner.
“Just as one assumes a 40-hour work week when comparing salaries, any discussion of pensions implicitly assumes a full-career.
“Furthermore, the disproportionally greater pensions for those who work a full-career reveal an inequitywithin CalPERS. Part of the generosity of the full-career benefits comes at the expense of partial-career retirees, who receive disproportionally smaller benefits.”
Fellner concluded, “With retirement costs expanding to as much as ten times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
To view the entire dataset in a searchable and downloadable format, visit TransparentCalifornia.com.
To schedule an interview with Transparent California, please contact Robert Fellner at 559-462-0122 or Robert@TransparentCalifornia.com.
Transparent California is California’s largest and most comprehensive database of public sector compensation and is a project the Nevada Policy Research Institute, a nonpartisan, free-market think tank. Learn more at TransparentCalifornia.com.