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More than five hundred former high-level Orange County employees are collecting six-figure pensions - as much as $244,000 per year.
Those top-paid pensioners pocketed nearly $60 million in 2009 from the financially troubled Orange County Employees Retirement System.
The 515 top retirees, just 4 percent of all county pensioners, got 13 percent of all benefits, according to an Orange County Register analysis.
Click here to search online database of retirees here.
The percentage of Orange County retirees receiving $100,000 or more is nearly three times the proportion in the statewide California Public Employees Retirement System.
"What that shows is the Ponzi scheme of the benefits," said Marcia Fritz, president of the California Foundation for Fiscal Responsibility, a pension reform group. "The high-paid, low-turnover employees are getting the goodies."
OCERS released the information June 30 after losing a lawsuit brought by Fritz' group. The Register had been demanding the information under the California Public Records Act for more than a year, and filed a brief in support of the lawsuit.
The Register analysis showed that 515 county retirees were in the "100,000 club" in 2009 out of 12,244 pensioners. The average retiree gets $37,000 a year.
The large pensions are all legal and largely the product of retirement formulas approved by policy-makers during good economic times. The generous pension plans have encouraged employees to retire earlier with a larger share of their salaries – pushing OCERS long-term debt to $3.7 billion. The tax-guaranteed pensions come from employee contributions, contributions by the government agencies and retirement system investments.
Fritz has a theory why the $100,000 list was riddled by manager after manager.
"The people that negotiate those benefits are negotiating for themselves (too)," Fritz said.
Fifteen Orange County pensioners are set to collect at least $200,000 in 2010, with former Orange County Sanitation District finance director Gary Streed topping the list at $20,363 a month in May, or $244,359 yearly. Former Orange County Chief Executive Officer Michael Schumacher collected $19,929 in May, or $239,150 annually.
Streed said his No. 1 status is merely the product of working 38 years for the same agency. Streed noted that he left two years shy of securing 100 percent of his salary.
"I went to work, I stayed at work and this is what I get for it," said Streed, 64. "I just followed the rules."
Current county Chief Executive Officer Thomas Mauk said he is troubled by the high numbers, noting that Orange County, like many other municipalities, is struggling with runaway pensions, budget deficits and a down economy.


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This division is responsible for developing and implementing TDOT's highway programs. The State Transportation Improvement Program is compiled and administered through this division. It establishes and maintains a schedule of development on all highway improvements, except for those managed through the Project Management Division. Other responsibilities include generating and processing state and federal project allotments and funding authorizations and administering state funds and federal funds through FHWA used by local agencies for highway, safety and enhancement improvements.
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Hotel news, opinions and updates from the team at The Sukhothai.
We have been keeping ourselves busy these past few months, as business has bounced back very quickly and very strongly since the flood crisis last year. The kitchens are buzzing with banquet operations as well as for the guests returning to our restaurants.
The White Truffle promotion was a huge success in La Scala. Chef Maurizio had some excellent creations on offer and the response was huge. In fact, popularity was so high that we struggled to keep up with demand. Now Maurizio ha... Read more


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Joshua Williamson Sends Winter Soldier and More on the Hunt for "Red Skull"
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