by Bob Walsh
A
lot of counties are in the CalPERS pension system, but they operate by
slightly different rules. Many of them make it, or at least USED TO
make it, much easier to engage in what is called "pension spiking."
This is manipulating your final year (or two or three) of compensation
to give you a much higher pension that you would otherwise be entitled.
This includes things like maxing out your overtime (which does not
count for pension for state civil service workers) or lumping your
cashout of unused vacation, etc. into final compensation.
The
courts have now ruled that this is a no-no, retroactively. A lot of
local agencies that pay into CalPERS will now be going back and
refiguring pensions and (presumably) going after overpayments.
I
kind of wish they would go after "Chief's Disease." This peculiar
disease seems to affect only high level CHP officers and strikes them
months before retirement, meaning they go out on a disability
retirement, which is tax-free.
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