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Audit Coming for Pittsburgh Pensions

Pennsylvania Auditor General Eugene DePasquale and Pittsburgh Mayor Bill Peduto announced on Wednesday plans to audit the city’s municipal pension funds. DePasquale said the audit was routine and not triggered any suspicions in particular. Part of the audit’s purpose will be to see whether the pension systems implemented recommendations made during ...
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Audit Estimates Legal “Pension Spiking” by CalPERS Members Could Cost State $800 Million

The California Controller released an audit on Tuesday that found a particular brand of “pension spiking”, although perfectly legal, could cost California $800 million over the next 20 years. From California Healthline: Dozens of public agencies that contract with CalPERS have engaged in a legal form of pension spiking, putting the state on the ...

Pennsylvania Auditor General Calls For “State-Wide Solution” After Audit Reveals Scranton Pension System Could Be Broke Within 3 Years

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