Government Waste!


Waste WatchDaily Republic October 11, 2015

Former Solano County exec
tops state with $375,990
pension

By Ryan McCarthy

FAIRFIELD — Michael D. Johnson, former Solano County
administrator, tops the list of highest government pensions in
California with a yearly payout of $375,990 and the city of
Vacaville is among the top 10 agencies in the state for
full-career pensions for public safety retirees, the group
Transparent California reported.  Average public safety pensions for Vacaville are $121,747 – fourth in the state – while the median income of area residents is $55,240, Transparent California said Tuesday.

Fairfield’s average pension for safety employees is $100,918 – placing the city 55th out of 121 cities with sufficient number of retirees to produce a meaningful average, Transparent California said. Nonsafety workers in Fairfield receive $77,052 through the California Public Employees’ Retirement System. Vacaville nonsafety employees receive $75,826, slightly less than Fairfield, according to Transparent California figures.
“Average full-career pensions that significantly exceed the wages of most full-time workers shatters the myth that CalPERS only provides a modest level of retirement income,” Robert Fellner, research director for Transparent California, said in a press release.

“Retirement costs are directly related to the generosity of the benefits promised, and unfortunately, taxpayers are now being required to pay an equally exorbitant sum to help fund them,” he said.

Fellner concluded, “With retirement costs expanding to as much as 10 times what private employers are paying, maintaining the status quo is extremely irresponsible. It’s particularly indefensible to force taxpayers to bear the entire cost for the recklessness of union-backed officials who gambled on sky-high investment returns, lost, and now expect taxpayers to bail them out.”
Reach Ryan McCarthy at 427-6935 or  rmccarthy@dailyrepublic.net.

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