The Sacramento Bee reports:
Thousands of newly retired school administrators will earn more during retirement than most Californians will make during their working careers.With today's low interest rates: the present value of a $100,000 a year pension is about $3 million. Just a reminder, when you hear stories about altruism and working class heroes (it's for the children).
The number of educators receiving $100,000-plus annual pensions jumped 650 percent from 2005 to 2011, going from 700 to 5,400, according to a Bee review of data from the California State Teachers' Retirement System.
