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California State Controller's Review of CalPERS Pension Controls and Mechanisms (PDF)
California State Controller 
Sept. 10, 2014
Dated September 2014. "The State Controller's Office (SCO) has completed a review of the California Public Employees ' Retirement System (CalPERS) to determine whether controls are in place to detect and prevent pension payments based on unusually large or excessive final compensation amounts, commonly known as pension spiking.... The available resources limit [CalPERS'] annual reviews to only 45, or 1.5% of the more than 3,000 reporting entities. At this current rate, pension spiking could go undetected for an extended period of time, as each reporting entity would be reviewed, at the earliest, every 66 years."
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