California Pension Fund Mystified That Folks Are Upset About Budget-Busting Bonuses
24th October 2014
No problem, said the California Public Employees’ Retirement System (CalPERS). They’ll just declare all sorts of bonuses to be part of their base pay and force them right back into the pension calculations. CalPERS voted to have 99 bonuses sometimes given to certain public employees for various tasks that most of us would classify as expected job duties (like officers directing traffic) as part of their base pay. And so California’s multi-billion-dollar pension crisis gets worse.
And the suicide of California proceeds on schedule.