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California Public Pension Benefit Calculus Draws New Scrutiny
The Wall Street Journal; subscription may be required Link to more items from this source
July 20, 2009
Excerpt: A California dustup over large pension payments is shining a spotlight on the practice of spiking -- increasing a salary just before retirement and boosting the lifelong payout.... The practice is getting more attention amid growing concerns about the sustainability of guaranteed pension payouts for public employees after brutal market losses last year in public pension funds.... While it happens nationwide, pension spiking has been especially prevalent in California, which some attribute to favorable terms negotiated by powerful unions.

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