CalPERS Misleads Public Regarding Public Employee Benefits

By Gary Gonsalves, M.D.
Posted 2/6/11

This article (by Daniel Borenstein) was brought to our attention by Richard Rider from the San Diego Tax Fighters.  In California, our budget deficit woes will mandate reform of the public employee retirement systems.  In California, the system is called CalPERS, and they seem to be starting a campaign to mislead the public about public employee retirement benefits.   

CalPERS wants you to believe that their retirees are receiving a mere $2200/month in benefits.  WHAT A SCAM!

Here is the reality.  “CalPERS data shows the average
career public employee, who put in at least 30 years of service and
retired in the 2008-09 fiscal year, collected a starting pension of
$67,000 a year, or 2.5 times the advertised figure“.  In addition to this, approximately 65% of these public employee retirees also receive social security benefits, an additional $19K per year. 

How can CalPERS numbers be so far off?……it’s all in how they report the statistics.  Never underestimate the ability of government entities to distort the numbers. 

This very short read by Daniel Bernstein is well worth your time. 

Read more at Stop Taxing US