Brown blasts CalPERS for allowing enhanced pay
By Jon Ortiz, Sacramento Bee
A divided CalPERS board on Tuesday approved a regulation that will allow nearly 100 different types of supplemental pay to count toward pension calculations for state and local government employees.
The 7-5 vote drew a swift rebuke from Gov. Jerry Brown, who signed pension overhaul legislation in 2012 that, in part, attempted to crack down on pension spiking. Specifically, Brown objected to CalPERS’ allowing pension calculations to include “temporary upgrade pay” for workers who briefly fill a higher-paying position to count toward retirement.
“… CalPERS got it wrong,” Brown said in a statement released shortly after the board’s action. “This vote undermines the pension reforms enacted just two years ago. I’ve asked my staff to determine what actions can be taken to protect the integrity of the Public Employees’ Pension Reform Act.”
That law required pension calculations based on “the normal monthly rate of pay or base pay” of employees who become retirement system members on Jan. 1, 2013 and later. It also disallowed “ad hoc” payments included in retirement benefit calculations, a key provision intended to thwart pension spiking.
Regretful evidence that the Takers have now outnumbered the Producers on the CalPERS board.
One comment on this most important issue to all in California and yet there is only one comment….
Why is that? It is odd when you consider that the tax payers in private sector are being fleeced. You would think that those citizens would be outraged at this action by their government to further benefit the Government aristocracy at the expense of tax paying citizens.
So why no comments?
Could it be that the majority of the people that live/ own homes in SLT are government employees or retired government employees and therefor run for cover when info like this comes out?
hmmm,
I’d like to know the occupations of the recent crop of home buyers in SLT? is it true that the majority of them are government employees of one form or another?
CJ, there are probably no comments because this is one area where there is NO defense for the bad actors in this case. Nothing to fight about.
Cj probably because not too many of us ltn readers and bloggers are interested in your rant and some of do have lives outside this rag, dogzilla being the acception…
Give them a break they have to work until their 53-55 years old.
go figure, that might make sense to a fool. A more logical alternative would be to face the issues and if you don’t want to read my rants on an issue don’t read them…
Dog, I don’t think so, i think it is because the demographics of the community is predominately government aristocrats currently getting pensions or expecting them. I think that is a big part of the problem in SLT. Dominated by government employee type of thinkers.
I intend to fight to get them reduced, current and future. The pensions and compensation structures were delivered in a cloak of secrecy and deception and they, the government pensions, are at the root of our economic problems.
Freedom loving people tend to stop being productive when they get enslaved.
It’s history all over again.
My fear is that a majority of people living in SLT don’t recognize big picture issues and instead focus on the trivially small, like parking meters. They’re so worried about the nickels and dimes that they don’t see the $100 dollar bills escaping their grasp.
However, I don’t think this affliction is limited only to SLT’s residents but is instead statewide. After all, anyone from anywhere can read and blog on this site. Isn’t that right Mr. McCoy?
As well they should, Tahoe is America’s Jewel after all, is it not?