CALIFORNIA: THE GOLDEN BROKEN STATE. Stockton Police Chief’s $204,000 Pension Contributes to Bankrupt City’s Woes. “He lasted eight months and left the now-bankrupt city at age 52 with an annual pension that pays more than $204,000 — the third of four chiefs who stayed in the position for less than three years and retired with an average of 92 percent of their final salaries.”