If the pensioners were forced to pay taxes they would all vote Republican. .As it is they are leaving and enriching Nevada…From judges to cops…their money goes a lot farther there and they save 9-13% on State tax…or about a third of their Fed tax…Blame Gray Davis
Some of my richest friends are excops…CHP officers who retired in 1999 or earlier after at least 30 years on the job collected pensions averaging $62,218, according to CalPERS data.
For those who retired after 1999, the average pension was $96,270.
The average retirement age for CHP officers is 54. Someone that age without a pension who wanted to buy an annuity to generate the same income for life would have to pay more than $2.6 million, according to Fidelity Investments.
Few Americans have that kind of nest egg.