As reported by the San Diego Union-Tribune:
Thank you for reading this post, don't forget to subscribe!The debate over public employee pensions often centers on funding — who’s paying the tab.
Taxpayer groups point to large public contributions to retirement funds. Public employees and pensioners point to their own contributions — and investment earnings by the pension fund itself — as significant contributors.
New data from the U.S. Census bureau sheds light on the balance among those three sources, when it comes to funding pensions.
The top contributor to state and local pensions in 2015 in California was investment earnings, at $28.2 billion or 45 percent of incoming revenue for pension systems.
Next was government contributions, generally borne by taxpayers, at $24.6 billion or 40 percent of funding. Public employee contributions totaled $9.4 billion, or 15 percent of revenue. …
Speak Your Mind