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AimPoint Pension
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Bates & Company, Inc.
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CalPERS Planning to Gut a Key Cost-Control Provision of California Pension Reform
Contra Costa Times [Opinion] Jan. 13, 2013 "The agency's absurd interpretation of the new law will fatten pensions for new public employees, drive up government costs and erode untold billions of dollars of savings that the governor and CalPERS previously claimed the new law would produce. The key provision is pretty simple: New employees will receive pensions based only on their 'normal monthly rate of pay or base pay'.... If new workers receive one of nearly 100 different pay premiums for everything from marksmanship and longevity to being a notary or working on a library reference desk, CalPERS has decided, the extra compensation will be counted as income when their pensions are calculated." |
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