In Forbes, Rich Karlgaard crunches the numbers on public employee retirement plans, showing may have retirement plans with net present values in the millions.
Who are America’s fastest-growing class of millionaires? They are police officers, firefighters, teachers and federal bureaucrats, who, unless things change drastically, will be paid something near their full salaries every year–until death–after retiring in their mid-50s. That is equivalent to a retirement sum worth millions of dollars.
Hat tip to Zack Scrivener.