Myth: Government workers don’t contribute to their pensions; taxpayers are on the hook to pay those costs. |
Facts
Myth: Pension Costs for the State of California have increased by 2000 percent in the last 10 years. |
Facts
Myth: Public pension benefits are excessive and a drain on the public. |
Facts
Myth: CalPERS pensioners can "goose" their retirement benefit upward by manipulating the income that gets included in their final year of compensation. |
Facts
Myth: The average CalPERS pensioner gets 80 percent of their pay. |
Facts
Myth: CalPERS said the SB 400 benefit enhancements would be free to the State forever. |
Facts
Myth: CalPERS Board is focused on benefit enhancements. |
Facts
Myth: CalPERS is going to run out of money because of baby boomers retiring. |
Facts
Myth: Police and firefighters retire at age 50 with 90 percent of pay. |
Facts
Myth: Pensions are among the highest costs of State government. |
Facts
Myth: Increased pension formulas are bankrupting State and local government. |
Facts
Myth: CalPERS is unsustainable. |
Facts
Myth: Prior to SB 400, the State paid $400 million in contributions. Ten years later, the State is paying $3 billion due to benefit enhancements. |
Facts
Myth: The CalPERS System is “unsustainable.” |
Facts
Myth: Government pensions are paid by taxpayers. |
Facts
Myth: CalPERS is in jeopardy because its funded status is dropping as a result of the market downturn. |
Facts
Myth: Rate smoothing is funny accounting that requires future generations to pay pensions of those working today. |
Facts
Myth: One can’t rely on CalPERS actuarial reports. |
Facts
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