PolitiCal

On politics in the Golden State

« Previous Post | PolitiCal Home | Next Post »

New bill aims to end 'pension spiking'

With states facing massive funding shortfalls for public pensions, California lawmakers will debate a plan that could end large pay raises for state workers on the verge of retirement.

A new bill by Assemblyman Ed Hernandez (D-West Covina) seeks to end the practice known as "pension spiking" -- when workers on the verge of retirement receive large pay increases, which in turn increase their lifetime pension benefits.

In a written statement, Hernandez said, "Teachers, nurses, firefighters and police officers deserve an adequate and secure retirement that is not threatened by a few unscrupulous individuals trying to fatten their own benefits."

The bill, AB 1987, was introduced this week. More details of the proposal are in Capitol Weekly.

-- Anthony York

 
Comments  ()

Connect

Recommended on Facebook


Advertisement

In Case You Missed It...

Video



Advertisement

Categories


Archives
 



Get Alerts on Your Mobile Phone

Sign me up for the following lists:

In Case You Missed It...