LOS ANGELES (YBH.ME) - As California continues to struggle economically, an indicted former city executive from tiny Vernon, CA receives a $499,674 yearly pension from the state’s CalPERS fund.
Bruce Malkenhorst in an undated 1977 photo. Mr. Malkenhorst receives a $500k yearly pension from the state of California.
Bruce Malkenhorst worked for the city of Vernon for 27 years and walked away with the largest pension for a public employee in US history. Mr. Malkenhorst was indicted on public corruption charges in late 2006. He still receives his generous pension while awaiting trial.
6,133 former California state workers receive yearly pensions of more than $100,000. California’s unemployment rate has surged over the last two years to its current high of 12.2%. California is expected to have a $40 billion budget gap over the next two years.
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John Romano is the publisher and editor of Yes, But However!, a musician, a former political correspondent for BBC Radio London, and a serial web entrepreneur. Follow him on twitter: twitter.com/yesbuthowever or John Romano on Google+John Romano article archive.
