Calif. Official Awarded $400K Paycheck a Year...For the Rest of Her Life

A supervisor in Alameda County, Calif., will retire from her job with a paycheck that would make even Wall Street veterans green with envy: $423,664 a year.

For the rest of her life.

Susan Muranishi “has been with the county for 38 years, and she’s 63. When retirement day comes, she’ll be getting a lot more than a gold watch,” the San Francisco Chronicle reports.

Her annual pension “will be equal to the dollar total of her entire yearly package — $413,000,” the report adds. “She also has a separate executive private pension plan, for which the county chips in $46,500 a year.”

She already makes $301,000 in annual base pay. In addition to that, the Chronicle reports that she’ll also receive:

• $24,000, plus change, in “equity pay’’ to guarantee that she makes at least 10 percent more than anyone else in the county.
• About $54,000 a year in “longevity” pay for having stayed with the county for more than 30 years.
• An annual performance bonus of $24,000.
• And another $9,000 a year for serving on the county’s three-member Surplus Property Authority, an ad hoc committee of the Board of Supervisors that oversees the sale of excess land.

Oh, and like most executives in Alameda County, she’ll also get an $8,292-a-year car allowance.

Watch the Fox News report:

News of Muranishi “generous” salary comes at a time when California is dealing with municipal bankruptcies and an exodus of cash, business, and talent.

Indeed, California is no longer the state that once attracted “enterprising, educated and talented immigrants from across the country,” as the Washington Examiner’s Conn Carroll notes.

“Thanks to high housing prices and a weak job market, California is now a net exporter of U.S. citizens to other states,” he adds:

U.S. Census Bureau.

If things continue along at this rate, state officials will have no choice but to review (reform?) how they compensate public employees. There simply won't be enough money to go around.

Follow Becket Adams (@BecketAdams) on Twitter

Featured image screen grab.