The huge pension liability of American car companies such as General Motors is one of the major reasons why they have struggled to remain competitive in recent years. But pension liability is not restricted to the automative sector, as this graphic shows.

It shows that on average, a retired Californian teacher “earns” about the same amount per year as the average of U.S active teachers - in fact they receive more than active teachers in 28 other states. California has become famous for budget blow-outs and it is hard to see how this is sustainable for their pension fund.

However, when I retire (in quite a long time!) I certainly wouldn’t mind US$51,000 per year to keep me out of the soup kitchens!

Original article can be found here.

Perhaps Californian teachers need it after all that hard work teaching the beautiful people