Check this out and make sure you understand any assumptions that others are using as lots of misleading information out there. The rates quoted by most include:
- blend of new employees as well as career employees
- older rate schedules and not latest for someone retiring today
Pls be sure you have apples and apples assumptions so you do not get fooled like I was. If anyone has most recent data for someone retiring today and only for career workers with 30-35 yrs service,so we can understand apples for apples, please share with us.
Here is the article:
Daniel Borenstein: Public employee pensions much higher than advertised, 2/5/11 (Oakland tribune)
(Copyrighted story from another newspaper removed.)