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.
According to the Social Security Administration, in 1945, 41.
9 workers supported each individual retiree, while today only 3.3 workers support each retiree. This system cannot continue.