A $76,000 Monthly Pension: Why States and Cities Are Short on Cash

[alarimer]

9. Thank you.

The media outrage brigade loves to look at the shitty exceptions. For one thing, I'm not sure you can consider a football coach as a "typical" public servant. Most are people like me. After 30 years of service, my pension will be maybe $1200/ month (I've worked for 2 different states).

The Texas ERS lost a lot of money in the Enron scandal as well, though I'm sure they've made up for it.

Both retirement systems that I am in use a rate of return much less than 7%.

Most public employees make a whole lot less than that football coach. Which isn't to say that unfunded pensions are not a problem, they are. But contrary to public belief we are not making a mint while we work, especially when compared to others.