Number of public retirees with pensions over $100,000 skyrockets

As reported by the Orange County Register:

Back in 2005, just 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public Employees’ Retirement System.

A decade later, membership in the so-called $100K Club had swelled by nearly 20,000 souls.

CalPERS data provided to the conservative-leaning group Transparent California, and analyzed by the Register, found that 21,652 public retirees received annual benefits of more than $100,000 in 2015.

That’s a jump of 28 percent in just two years – which might seem jarring at first blush, but actually represents a slowdown in the club’s explosive growth of late. Between 2005 and 2009, membership in CalPERS’ $100K Club tripled. Then, between 2009 and 2013, it nearly tripled again, largely a function of higher working salaries and more generous retirement formulas.

Orange County landed just one retired worker on the Top 25 statewide: Dave Ream, longtime Santa Ana city manager, at $263,202. Los Angeles-area cities, special districts and universities dominated the Top 25. …

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