SACRAMENTO -
A California pension is a sweet deal if you can get it.
Some state and local government employee's receive almost 100-percent of their salary in the state retirement plan for the rest of their lives. But some watchdogs say you're paying the price.
Marcia Fritz with the California Foundation For Fiscal Responsibility says those guaranteed Calpers pension payments to 15-thousand former state and local government workers is why California can't balance its budget.
She believes "we could loose every penny we invest and we still have to pay you".
Here's an idea what an average retired worker in local or state government workers makes:
If they earn 62-grand and works for 20-years to retire at 60...they'll bring home $26,000 every year for the rest of their life, plus social security.
Marcia says in fact some former workers are cashing in even more...she found thousands of state workers being paid over $100,000 a year in retirement for the rest of their life.
The numbers now have the Governor will challenging lawmakers in his last year in office to revise state pensions, but it's expected to be an uphill battle.
Some state and local government employee's receive almost 100-percent of their salary in the state retirement plan for the rest of their lives. But some watchdogs say you're paying the price.
Marcia Fritz with the California Foundation For Fiscal Responsibility says those guaranteed Calpers pension payments to 15-thousand former state and local government workers is why California can't balance its budget.
She believes "we could loose every penny we invest and we still have to pay you".
Here's an idea what an average retired worker in local or state government workers makes:
If they earn 62-grand and works for 20-years to retire at 60...they'll bring home $26,000 every year for the rest of their life, plus social security.
Marcia says in fact some former workers are cashing in even more...she found thousands of state workers being paid over $100,000 a year in retirement for the rest of their life.
The numbers now have the Governor will challenging lawmakers in his last year in office to revise state pensions, but it's expected to be an uphill battle.
