Committee approves higher pension calculations

Published



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.

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