Quote by Chris Christie
One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits - a total of $3.8m on a $120,000 investment.
Summary
This quote highlights the significant gap between the amount a state retiree pays towards their retirement pension and health benefits versus the amount they receive in return. In this example, the retiree contributed $124,000 throughout their career, but they will ultimately receive a staggering $3.8 million in pension payments and health care benefits. This dramatic difference underscores the magnitude of financial burden placed on state systems and raises questions about the sustainability of these retirement plans.
Topics
Health
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