Consider: In 1999 – the year before more generous retirement formulas started snowballing statewide – there were 16,071 retirements, and the average benefit was $20,532 per year, according to CalPERS figures.
In 2012, there were nearly twice as many retirements – 33,330 – and the average annual benefit had almost doubled, to $36,468.
http://www.ocregister.com/taxdollars/ci ... -club.html
The federal minimum wage is $7.25 an hour and was last raised in 2009. In California, it's $8 an hour and was last raised in 2008.
LA fast food workers make a median wage of $9 an hour and $11,232 annually, according to Good Jobs LA.
http://www.huffingtonpost.com/2013/08/2 ... ref=topbar