Capping big pensions: How much is too much?

By Ed Mendel

Calpensions

April 5, 2012

Link: http://calpensions.com/2012/04/05/capping-big-pensions-how-much-is-too-much/

Excerpts:

  • Leading the 12,199 members of the “$100,000 club” on the reform group’s California Public Employees Retirement System list of retirees receiving pensions of $100,000 a year or more: [1] Bruce Malkenhorst, Vernon city administrator, $530,268; [2] Joaquin Fuster, UCLA neuroscientist, $314,713; and [3] Donald Gerth, CSU Sacramento president, $295,086.
  • Topping 5,259 retirees on the California State Teachers Retirement System list: [1] James Enochs, Modesto elementary, $296,555; [2] Fredrick Wentworth, San Joaquin County, $290,485; [3] and Edward Hernandez Jr., Rancho Santiago Community College, $286,396.
  • The highest of the 1,642 on the University of California Retirement Plan list: [1] George Miller, Lawrence Livermore National Laboratory, $270,075; [2 & 3] Thomas Cesario, UC Irvine, and James Holst, UC general counsel, $237,129.
  • A Salinas public hospital official will receive a retirement payment of nearly $4 million in addition to a $150,000 annual pension, the Los Angeles Times reported last year.

Commentary:

  • These annual pensions are not just obscene, they are downright immoral.
  • Millions of California taxpayers are suffering from severe financial hardship while their past, present, and future tax payments are being used to provide retired “public servants” with an annual pension that Kim Jong Il would be ashamed to accept.
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