Few have profited from California’s government retirement system as former Anaheim city manager Jim Ruth — who is one of the highest-paid retirees at $219,045 a year.
Ruth, 73, continues working, earning another $225,000 annually from another local agency.
Even he says government retirements need to be reformed.
“They’ve got to look at some way to restructure the system,” said Ruth. “When you look at the cost of that system, I don’t think we can any longer afford that.”
Not that he’s willing to cut his pension.
“I got up everyday, went out and earned my money.”
Public workers in California enjoy pensions nearly equal to their salaries — guaranteed by taxpayers and available as early as age 50. If the funding falls short, the taxpayers pay the difference.
Ruth is the 13th highest -paid retiree in the California Public Employees’ Retirement System.
He worked for Anaheim for 22 years, ultimately leading efforts to expand the Disneyland resort and build what is now the Honda Center.
He went on to become interim chief executive officer of Orange County — at $205,000 a year for two years. Under his stewardship, the county approved a lucrative raise in retirement benefits, effective retroactively, for general workers.
He now is at the helm of the $601 million Orange County Sanitation District, earning $225,000 — which includes a $43,443 raise last September. That means he makes nearly $450,000 a year in pay and retirement.
Ruth doesn’t view his arrangement as double-dipping. Read the rest of this entry »
Congratulations! You just ran out and bought that new car. The sticker price was $25,000 - but when they added the sales tax, you wound up coughing up another $2,187.50. Ouch!
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