One and a third of California workers pay for one retiree

CalPers: For the first time in the fund’s history, retirement benefits paid out exceeded the amount of contributions.

Like many pension funds across the country, CalPERS is facing demographic headwinds.

There are now 1.3 participants contributing to the fund for every retiree. The ratio was two active participants for every one retiree 10 years ago. The fund has obligations to more than 1.2 million active and inactive participants.

Trustees expect that downward trend to continue for the next 20 years, when the ratio of active participants to retirees is expected to be less than one,

And that means Bezerkeley Kanosians had better start praying.

Here is pension stuffing in  action:

ORINDA -- Retiring Orinda School District Superintendent Joe Jaconette has received another base salary increase that could give him an even higher pension payout.

Following a reception honoring the superintendent attended by local leaders, including state Sen. Steve Glazer and Orinda Mayor Victoria Smith and Councilwoman Amy Worth, the governing board approved Monday a 1.5 percent base salary hike that will escalate the administrator's base salary from $218,042.76 to $222,928, according to district data.

This is Marin County, a hot bed of pension corruption.  It's Boxers home turf.  Pension Tsunami lists all the crooked actions as they happen.  Here is one from  Florida:

Straying from a policy of prohibiting employees from “double dipping” — working beyond a retirement date and collecting both a pension and a paycheck — Miami’s city manager has elected to retain Fire Chief Maurice Kemp for an extra year.

Kemp was slated to retire March 24, a date set when he enrolled in the firefighter pension trust’s deferred retirement option plan, which allows employees to continue working for a set period while a monthly pension benefit is paid into a tax-deferred account. But City Manager Daniel Alfonso agreed to keep Kemp an extra year, saying he needs more time to finish important initiatives and guide a young, relatively inexperienced department.

Read more here: http://www.miamiherald.com/news/local/community/miami-dade/article54749910.html#storylink=cpy