[quote=AN][quote=CA renter]
The retirees earning $100,000 are an incredibly small portion of those receiving benefits from the govt pension programs. Like I’ve said many times before, the MSM (propaganda machine for the PTB) always uses the outliers to rile up the ignorant masses.[/quote]
So, what would be a large portion of pension receiver then? Show me the number, we’ll run the comparison, and lets see if it still make sense. I’ve shown that for a $50k pension, that’s equivalent to ~$2M in the 401k if you down consider NPV and probably around mid $1M when calculating NPV. How many people making ~$80k/year can amass $1-2M in their 401k.[/quote]
“CalPERS, with assets of approximately $233 billion, is the largest public pension fund in the U.S. It administers retirement benefits for more than 1.6 million California State, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees. The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011 is $3,065 per month. More information about CalPERS is available at http://www.calpers.ca.gov.”
I know a large number of very average, middle-class retired people who make/receive $2,000-$3,500/month from their (non-govt) retirement plans and/or other investments. Many of them have bonds that were purchased when interest rates were “normal,” and many have portfolios with dividend-paying stocks, and some have stocks from many years ago that have gone up in value by many multiples. Many of them have rental properties that, alone, net them this income each month. Add in Social Security, and many are making MORE than the govt retirees.
