Today’s Number: $13,680 a year
Wednesday, Dec 19, 2012
* One of the things I talked about in my City Club speech yesterday was the fact that the pension reform debate has been far too heavily dominated by people who blame the scammers for all the problems. All the major media outlets have run stories about how this or that person was able to scam a really sweet pension deal.
Lost in this debate, though, is the very hardcore fact that in many ways we’re talking about giving the shaft to little old ladies who depend on their monthly pension checks.
* So, I called the State Employees’ Retirement System today to ask a question: What’s the average pension of female state retirees age 80 and above?
The answer: $1,140 per month, which works out to an average annual retirement pension of $13,680.
Keep in mind that the General Assembly has also passed a law which allows the state to slash its subsidy of retiree health insurance premiums.
Also keep in mind that, according to SERS, quite a few, if not most of those women probably didn’t enroll in Social Security when they were working for the state. So, their pension check is all they have.
According to SERS, there are 4,790 such women currently drawing retirement pensions.
* Meanwhile, a coalition of labor unions has said its members will put more money into the pension systems in order to help preserve benefits for retirees…