Chevron's $50 Billion Permian PiggybankThe California Public Employee Retirement System (CalPERS) is the USA’s largest pension fund with $301 billion in assets. It’s also a lucrative transfer mechanism helping 1,251 local governments confer ‘highly compensated’ pensions to tens of thousands of public employees. It’s ranked third most in $100,000 pensions with its top 509 retirements averaging $126,000 per year. Public pensions are not only for government employees, but are also for special non-government and private associations clouted into the public pension plan at CalPERS. Note: Recently at Forbes, we showcased the 220,000 currently active California public employees making over $100,000 and costing taxpayers $35 billion each year.

Source: Forbes November 26, 2016 12:22 UTC