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Promised Pension Benefits for Public-Sector Employees Represent a Threat to Financial Future of Many Cities and States
Barron's 
Mar. 16, 2010 Excerpt: Most public employees, if they hang around to retirement, can count on pensions equal to 75% to 90% of their pay in their highest-earning years. And many public employees earn even more in retirement than their best year's base compensation as a result of 'spiking' their last year's income by working ferocious amounts of overtime and rolling in years of unused sick and vacation days into their final-year pay computation. MORE >> |
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