Compass
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Bates & Company, Inc.
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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How Paid Sick Leave Can Be Healthy for Pensions
Calpensions Jan. 26, 2015
"[CalPERS] actuaries assume, when calculating future costs, that service credit for unused sick leave will increase pensions and other benefits by 1 percent for state workers and non-teaching school employees. Actuaries for [CalSTRS], making the calculation in a different way, assume that unused sick leave will increase the service credit for educators by 2 percent. An analysis by the CalSTRS actuary, Milliman, issued in 2010 found that the average amount of unused sick leave converted to service credit was 0.5 years for members retiring after 26 years on the job."
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