3 ms·

I don’t understand—don’t benefits typically make up around 30% of all compensation in the US? Why are the insurance/retirement costs so high in this particular

• Rebelgecko 3y ago
  Depends on the job, but in my experience no, it's closer to 50%. In general, government jobs have even better insurance and retirement benefits than a "regular" job. CALPRS requires retirement contributions in the neighborhood of 30% of salary
  • anonymouskimmer 3y ago
    If this is CalPERS, CalPERS is about 70% funded. Which means that a huge chunk of the $112k in "benefits" for these workers is actually being used to compensate for pension fund deficits for prior employees. In no actual way are these 'top-up' funds actually a benefit for the new pooper-scooper employees who are technically getting credited with the "benefit" as part of their total compensation. Among benefits I think only pensions are averaged across all employees in this way. Even health care insurance varies based on which of the insurance options an individual employee picks. And payroll taxes (social security, at least) cap out somewhere in the low 6 figures.
  • vlovich123 3y ago
    This is 160% though. Something is off.