2014 was the first year in which CalPERS provided an annual pension amount, as compared to the base monthly amount they provided in previous years.
Multiple CalPERS members reported to Transparent California that the 2014 amounts were understated and actually reflective of the 2013 yearly amount.
Today, CalPERS confirmed the annual values previously provided were for the 2013 and not 2014 year as labeled, but the monthly values were, in fact, for the 2014 year.
As such, we have updated the site with annualized amounts that represent the monthly 2014 allowance multiplied by 12.
Consequently, the 2014 values are now slightly higher than what was previously reported. For example, the average full-career non-safety and safety pensions increased 4 percent from $65,148 and $85,724 to $68,037 and $89,151, respectively.
For more, visit www.TransparentCalifornia.com.