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CalSTRS Missed Chances to Catch Pension Spiking, State Controller Finds
Pensions & Investments 
Sept. 5, 2012 "CalSTRS has missed opportunities to catch pension spiking and reduce unjustified or suspicious participant salary increases because it doesn't audit the personnel records of most of the 1,900 school districts and governmental entities that belong to the retirement system, a report by [California] State Controller John Chiang concluded.... In addition, the report found that CalSTRS failed to follow up when its system did detect possible cases of pension spiking, in which participants were given salary increases near retirement that increased their retirement compensation." MORE >> |
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