U.S. public pension payouts of $100,000+ rise to $36.2 billion

In 2025, nearly 300,000 retirees across 18 U.S. states received public pensions of $100,000 or more, totaling $36.2 billion in taxpayer costs. This represents an increase from 2024, when approximately 236,000 people received six-figure pensions totaling $30.6 billion.

California accounted for more than half of these payouts, paying 160,943 individuals. Illinois and New York followed with 48,962 and 32,381 six-figure pensions, respectively. The data also highlights extreme outliers, including 2,822 retirees receiving over $250,000 and 31 individuals earning more than $500,000 annually.

The states with the highest number of large pension payouts often face significant funding challenges. According to Equable, Illinois faces a $202 billion shortfall to meet its pension obligations, California is short $192.5 billion, and New Jersey requires an additional $95.5 billion to cover promised benefits.