California’s Pension Pirates

Are these what people refer to as ‘Pension Pirates’?

If public service truly is a sacrifice, then join me in shedding a tear for the 20,900 public workers in California who pulled down more than $100,000 in retirement benefits during 2015…

Leading the way for 2015 was Michael Johnson. The former Solano County administrator received a $388,407 pension last year…

Unlike your 401(k) that might increase or decrease in value with the stock market, public sector pension benefits are locked in place. If investment returns fall, the retirees’ benefits aren’t at risk because taxpayers are obligated to make up the difference.

Source: California’s Six Figure Pension Club Has More Than 20,000 Members 

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