SACRAMENTO, Calif. (AP) — A state pension fund committee on Tuesday approved retirement calculations for new government hires despite concerns about so-called “pension spiking” raised by Gov. Jerry Brown and local governments.
The committee of the California Public Employees’ Retirement System board voted 6-2 in favor of adding nearly 100 types of supplemental pay that can be used for calculating pension benefits for public employees hired after Jan. 1, 2013. The full board is expected to vote Wednesday.
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Subscribe Now
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.