More ‘$100,000 Pension Club’ lists are being published
Since CFFR first posted “The CalPERS $100,000 Pension Club” list on April 29, a number of newspapers and bloggers have been posting lists of members in their local $100,000 Pension Clubs. Thus far, the list of lists includes (in no particular order) Los Angeles, Fullerton, Sonoma County, Watsonville, San Luis Obispo County (and also here), San Jose, Humboldt County, Alameda, San Diego, Sacramento, and San Francisco.
And they’re being published in other states, too — like New York and Rhode Island.
The List for Contra Costa County, in an article by Kris Hunt of the Contra Costa Taxpayers Association is now available at
http://www.halfwaytoconcord.com/423-retirees-with-100k-pensions/
Whew! Looks like I got into government service at the right time! I jumped from the corporate world to government work three years ago, taking a pay cut, just to get the gold-plated Cal-PERS benefits. I figure with my current formula 2.7%@55, plus the ability to buy 5 years of service credit, plus the option to buy a temporary annuity from Cal-PERS, I can work 10 years and retire with almost 50% of my salary. It won’t be $100k a year but it will be enough for me to exit at 55 and live comfortably along with some seasonal/part time work and investment income. My old corporate world friends thought I was nuts at the time to leave behind salary plus commission plus bonusus, but that was before the recession hit. Now those same friends would “love” to take a salary but to hook up with a “secure” government job!