Rising salaries for California public-sector employees created big increases in average pension checks — with firefighters seeing benefits nearly triple since 1999, according to The Sacramento Bee.
The newspaper reviewed 14 years of CalPERS annual reports — from 1999 through 2012 — to analyze the impact of pension reform and pay raises on the checks received by beneficiaries.
Average first-month pension benefit checks received by California firefighters went from $1,770 in 1999 to $4,978 in 2012. California Highway Patrol officers saw checks increase from $3,633 in 1999 to $7,418 in 2012.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.