The average San Franciscan earns $44,000 per year, unless they retired from the city’s payroll. In that case, they earn an average of $46,000. Police and fire retirees fare even better, with annual pension equaling $91,000 and $108,000 respectively.
The numbers are a stark reminder of the pension obligations facing local governments on a large and small scale alike.
From the San Francisco Chronicle:
Here’s some fun facts. OK, maybe not so fun, depending on your perspective.
The average retiree from San Francisco city government earns an annual pension of $46,272, according to the San Francisco Employees’ Retirement System. The average retiree who worked at least 30 years in city government earns an annual pension of $76,981.
The average pension for a retiree from the Fire Department is $108,552. From the Police Department? $95,016. And everybody else? $41,136.
Read the full article here.