California Policy Center - 2013 CalPERS Payouts Online at Transparent California (link): CalPERS financial struggles are draining state taxpayers. The ever-increasing contribution rates it demands from state and local governments have already bankrupted several cities. Even for more financially stable agencies, increased CalPERS contributions have crowded out other spending priorities or tax relief.
While discussions about unfunded liabilities and projected rates of return are necessary and important, the average member of the public is too busy to dive into the details.
That’s why the recent release of CalPERS’ 2013 base payouts, including retiree names, on TransparentCalifornia.com is so important.
For the first time, average Californians can quickly and easily see how much CalPERS paid out to retirees in 2013. The names and payouts are available here.
Even a casual glance at the data, shows the root cause of CalPERS’ financial struggles: It’s paying tens of thousands of its government retirees pensions that dwarf what private-sector households make while working full-time.
(Mod: Equally intrigued by the latest news from TransparentCalifornia.com is Captain Obvious. Apparently the Captain has been doing a little research on his own there, and yesterday dropped off some information he asked us to share with you.)
Dear Mr. Tattler, Captain Obvious here.
When Transparent California reported they’d uploaded the 2013 California public pension reports, I checked it out. Imagine my delight when I discovered that Los Angeles County pensions were there, too!
I thought, who would Tattler readers know among those recipients? Lo and behold, I found the name of the leader of the Yes on UUT tax increase effort, yes, Sierra Madre’s recent Mayor, the one and only Nancy Walsh.
You know, the woman who never met a tax increase or a water rate hike that she didn’t like? A person who continues to strongly advocate for City Staff pay and benefits increases, even as recently as last month?
Let me share a little Captain Obvious math:
$ 99,201.96 divided by 12 months = $8,266.83 per month. For us paycheck to paycheck folks, that’s $1,907.73 per week.
Let’s say Nancy averaged only $90,000 over the 12 years that she’s been retired.
$90,000 x 12 years = $ 1,080,000. Let’s round it down to a cool one million $$.
This is the same Nancy Walsh who scolded the citizens and said that it was “shameful that the City of Sierra Madre didn’t do more for its seniors.”
I guess that’s true. Look what LA County is doing for her as a senior in her Golden Years.
Question: What has Nancy Walsh really done for the Seniors of Sierra Madre? What financial support, if any, has she personally given to Sierra Madre’s Senior program? What has Nancy done with the over $1,000,000 she’s collected, courtesy of LA Taxpayers, since 2002?
A pension paid for by taxes collected from working stiffs like you and me. Working stiffs who can only DREAM of a $99,201.96 per year pension. Plus COLA increases.
(Mod: Damn. I forgot to ask Captain Obvious what a "coastal cluster" is. Oh well, maybe next time.)
Tonight's City Council Special Meeting
The City Council is trying to move the General Plan updates forward, despite all of the foot dragging in certain downtown precincts. What this means is they're talking land use and water tonight. Issues that are kind of big in this town. Here is how City Staff limns the excitement in this evening's meeting agenda:
The rumble is scheduled to begin at 6:30 pm. You are going to want to tune in for this one!