"Jumbo Pensions"
California is being buried by this sort of thing.
Link from John Derbyshire, who points out:
"When Harry Truman left office in 1953, he had no income but his army pension of $112.56 a month. He had to take out a bank loan while negotiating a deal to write his memoirs. That was the way of things all over the Anglosphere. It was part of the tradition of modest Anglo-Saxon government."
An analogy from two years ago.