Secret Funds
Padded pension plans are one thing—secret ones are another. In Georgia, two state pension funds, the Teachers Retirement System and Employees’ Retirement System, are actually prohibited by state law from disclosing pension data for more than 100,000 workers in the public sector. Perhaps the state’s afraid of a little public backlash—according to the Atlanta Journal Constitution, of this wealth of retirees, 1,100 get six figures, including one who cashes in a pretty penny—almost $318,000 per year for life.
