CalPERS $100k Club Up 11% in Orange County as Newport Beach Experiences State’s Largest Rate Hike

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For Immediate Release
Contact Robert Fellner, 559-462-0122

CalPERS $100k club up 11% in Orange County as Newport Beach experiences state’s largest rate hike
Today, released previously-unseen 2015 pension payout data from the California Public Employees’ Retirement System (CalPERS). The over 625,000 records — obtained via a public records request — reveal that 1,495 Orange County retirees collected an annualized benefit worth at least $100,000, an 11% increase from last year’s report. The Orange County cities with at least 20 full-career retirees that had the highest average full-career pensions for safety officers were:

Costa Mesa: $122,870, which was the 12th highest statewide
Irvine: $119,281, which was the 17th highest statewide
Newport Beach: $116,326, which was the 23rd highest statewide

Soaring retirement costs

At 60.3 percent of pay, Newport Beach’s retirement costs for safety officers was the 2nd highest statewide — representing a 29 percent year over year increase, the largest statewide. The cost for Newport Beach’s non-safety employees increased 31 percent, also a statewide-high.