From from the we can spend other people’s money like there is no tomorrow department.  SF Weekly News:  “In fiscal year 1999-2000, the city spent about $300,000 on its retirement system. In fiscal year 2009-10, it was $200.5 million. Benefits alone — not salaries, just benefits — for current and retired employees this year are budgeted at $993 million. Spending on retirees’ health care and pensions is conservatively projected to triple within five years.”

San Francisco has 2,384 retired employees with pensions over $75,000 a year.  The top annual payment is $265,000.  See the Highest Pensions in S.F. Government. The city is cutting services and laying off employees to pay pensions of people many of whom don’t even live in the city.  In five years the city predicts its all pension cost will exceed $500 million a year – money the city does not have.

Related posts:

  1. Government Lunacy: New York Pays Teacher $100,000 a Year to Sit in Room and Do Nothing
  2. Phoenix Deficit $242 Million Not Counting $300 Million Owed for Expansion of $600 Million Convention Center
  3. Facing $164 Million of Red Ink, Mesa, Arizona Give 1,600 Employees a 5% Pay Raise
  4. Maricopa County Cuts Employee Spending $26 Million & Lays Off Workers While Giving 500 Pay Raises
  5. In 2008 Average Federal Worker’s Total Compensation $160,767 & Average Private Sector Worker’s Comp $69,790
  6. Government Greed – Government Workers on the Gravy Train
  7. Battle Over Outrageous Public Worker Pensions
  8. Not Happy Losing $3.8 Billion in Fiscal Year 2009, U.S. Postal Service Cuts Expenses & Staff & Loses $8.5 Billion in Fiscal 2010
  9. Glendale’s Elected Idiots Vote to Give $197 Million Glendale Doesn’t Have to a Dude so He Can Buy the Coyotes NHL Hockey Team for $170 Million – No Joke!
  10. The Benefits Storm – Average Pay & Benefits for New York City Trash Collector $144,000