Monday, April 20, 2009

Thank You, My Fellow California Taxpayers

I've written before about how my pension, California's State Teachers Retirement System, is safe (for me, anyway) because it's backed up by the wallets of my fellow taxpayers. Good to know it's in such good hands!

California's two biggest public employee pension funds handed out millions of dollars in bonuses last year to their top executives and investment managers, despite losing billions of dollars.

The biggest bonus check, $322,953, went to Christopher Ailman, chief investment officer of the California State Teachers' Retirement System. It nearly doubled his base pay of $330,000 for fiscal 2007-08.

3 comments:

Ellen K said...

And I am sure that Pelosi and Boxer will make sure that the California system is bailed out by other states that are barely keeping their heads above water. Isn't that an example of robbing Peter to pay Paul?

Darren said...

Thank you, Peter.

Ellen K said...

Spend it wisely,
Sincerely,
Paul