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 ...
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