On average, cities and counties in California pay about 35% of every police and fire salary dollar as the employer contribution to CalPERS. Employees themselves contribute an additional 8% to 12%. This is why California's pension system is not in a crisis, despite what the anti-union critics say. Our local governments and their employees are making contributions totaling 40% to 50% of salary to keep the state's pension system solvent.What percentage of salary are such employees retiring with? I'll bet it's over 40-50%. How is the shortfall being dealt with? Answer: it's not. That's why it's a shortfall.
Sunday, December 29, 2013
How Does This Make Sense?
I understand that the author is using the English language, but I don't understand the meaning as he's strung them together and drawn a conclusion: