Nearly 1,200 L.A. County retirees receive six-figure pensions
The Associated Press
Last Updated: July 11, 2004, 08:45:18 AM PDT
LOS ANGELES (AP) - Nearly 1,200 retired county government workers receive pensions of more than $100,000 a year, it was reported Sunday.
The 10 largest pensions range from $210,434 to $316,047, the Los Angeles Daily News said, citing county figures obtained under the California Public Records Act.
Overall, Los Angeles County counts 1,198 six-figure pensions while the California Public Employees Retirement System has 816 and the California State Teachers' Retirement System has 427, the newspaper said.
Taxpayer advocates said the findings are another example of the toll pensions, salaries and benefits are exacting on state and local budgets.
In recent years, state and local agencies have struggled to cover rising payments to employee pension funds as a result of stock market losses and dwindling tax revenues. Gov. Arnold Schwarzenegger has proposed borrowing $1 billion to meet the state's retirement obligations.
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